Crédit Agricole CIB has appointed CACEIS as one of its main listed derivatives clearers.
The clearing offer is part of CACEIS's Market Solutions package, which includes execution, clearing, securities lending, collateral management, foreign exchange and cash management.
Crédit Agricole CIB has also chosen to outsource its listed derivatives back-office to CACEIS, enabling it to benefit from the expertise of a leading European asset servicing company. CACEIS is further developing its integrated Execution-to-Custody model by including backoffice outsourcing for third parties.
Joe Saliba, Deputy CEO of CACEIS, commented: "Within Crédit Agricole's Large Client division, Crédit Agricole CIB and CACEIS are committed to developing value-creating partnerships. Crédit Agricole CIB can count on CACEIS's expertise in processing derivatives. I look forward to the continued strengthening of our relationship."
Eric Lechaudel, Global Head of Operations of Crédit Agricole CIB, added: "By entrusting the clearing and processing of our listed derivatives to CACEIS, we benefit from their broad coverage of markets and products such as equities, indices , dividends, rates, FX, raw materials etc. We are delighted with this new collaboration with CACEIS.”
Contributed | what does this mean?