17 October 2017
Find out more

SocGen Prime Services acquires minority stake in Gmex Group

17 February 2015  |  2372 views  |  0 Source: Societe Generale Prime Services

Societe Generale Prime Services - formerly Newedge - today announced that it has acquired a minority stake in Global Markets Exchange Group International LLP ("GMEX Group").

Following the investment by Deutsche Börse Group AG, Societe Generale becomes the second minority investor in GMEX Group and plans to provide execution and clearing services for clients trading on the exchange.
 
“The GMEX Group offers genuinely new ways to trade Interest Rates via their unique and versatile Constant Maturity Futures product,” said David Escoffier, Deputy Head of Global Markets for Societe Generale Corporate & Investment Banking and CEO at Newedge. “That's exciting for our clients as they adapt to the new environment, for our industry, and for us as part of this venture.  Acquiring a minority share reflects our commitment to driving innovation in the derivative markets, and we will continue to look positively at other similar initiatives based on innovation, quality and focused on delivery value to our clients."
 
“We welcome this investment from Societe Generale, which in conjunction with their earlier announcement to become an execution and clearing member of the GMEX exchange, emphasises the value of our proposition. We look forward to working with all our partners as we continue to position ourselves to meet the needs of the market across the investment management, banking and futures trading community,” said Hirander Misra, Chief Executive Officer and Co-Founder of GMEX Group.
 
GMEX Group is an exchange business focused on the launch of new products, including pioneering Interest Rate Swap Futures contracts, and derivatives indices, as well as emerging markets exchange business partnerships enabled by multi-asset trading technology.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.temenos.com visit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15047 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8285 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7740 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7125 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6303 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job