Newedge
| Newedge Group | |
| |
| Founded | January 2008 |
|---|---|
| Headquarters | Paris |
| Key People | CEO David Escoffier |
| Products | Multi-asset execution and clearing, prime brokerage and asset finance |
| Website | http://www.newedge.com |
Newedge is a global multi-asset brokerage business that offers execution and clearing of listed derivative products. It is one of the world's largest futures commission merchants and has more than 2,400 employees across 19 locations in 14 countries. It is owned by Société Générale, which acquired 100% of the company in May 2014 and renamed it "Société Générale Prime Services". [1] [2] Newedge was previously joint-owned 50% by SocGen and 50% by Credit Agricole.
Newedge's global platform comprises more than 85 global exchanges, allowing its clients to trade across the world from a single point of contact as well as to take advantage of Newedge's prime brokerage and financing services.
Background[edit]
Formed in 2008 as a 50/50 joint venture by Société Générale and Crédit Agricole CIB, Newedge acts as an impartial partner to its clients.
In addition to its shareholder banks, Newedge itself has banking status. As a bank, Newedge must meet strict banking standards pertaining to financial reserves and regulatory procedures.
Products and Services[edit]
Newedge offers a full range of clearing and execution services covering options and futures contracts for financial products and commodities, as well as for money market instruments, bonds, FX, equities, and commodities on OTC markets. Newedge also provides a range of services, including prime brokerage, asset financing, an electronic platform for trading and order routing, cross margining, and the centralized reporting of client portfolios. It primarily serves institutional clients.
In June 2014, Newedge said it would close its grains desk on the floor of the Chicago Board of Trade.[3] (Agricultural products will continue to trade electronically on Globex.)
Key People[edit]
- David Escoffier, CEO
- Olivier Hartemann, Chief Operating Officer
- Christophe Mianne, Chairman of the Board
- Francois Combes and Franck Borgel, Global Co-heads of Commodities & Currencies
- Mark Gonzalez, Head of OTC Clearing Sales
References[edit]
- ↑ Societe Generale Takes an Equity Stake in Eris Exchange. Societe Generale.
- ↑ Newedge in talks to make senior hires following Wilson exit. The Trade News.
- ↑ Newedge shutters grains desk on CBOT open-outcry floor. Reuters.