The move was driven by the firm’s clients asking for their trades to be cleared within the European Union.
Societe Generale Corporate & Investment Banking announced this Monday that it will offer a clearing capability for its clients on derivatives and over-the-counter (OTC) products in the European Union (EU) by the end of this year.
According to the statement, the French multinational investment bank plans to open a financial hub in Paris, a move which seems to be a direct result of Brexit. By the end of this year, the Societe Generale’s Prime Services team of experts will be able to clear client trades directly from its platform in Paris.
The new unit will be joining several clearing houses in France’s capital. These include the London Stock Exchange’s LCH SA in Paris and Deutsche Boerse’s Eurex Clearing in Frankfurt.
According to a Societe Generale spokeswoman speaking to Reuters, the move was driven by the firm’s clients asking for their trades to be cleared within the EU. However, LCH SA will still be used for clearing credit default swaps, while interest rate swaps will be cleared by Eurex, the spokeswoman noted.
Commenting on the announcement, Christophe Lattuada, Global Head of Prime Services said: “Societe Generale works with clients daily on listed derivatives and OTC clearing by adapting its offering to their changing needs within the current uncertain regulatory environment. Our clients benefit from our long-standing presence in Paris and the well-established team delivering best in class client service.”
Societe Generale Bolsters Prime Services Team
Alongside the offering of clearing capabilities, Societe Generale has also been bolstering its Prime Services sales team in Continental Europe. This was achieved by the appointment of two senior members - Stéphane Eglizeau and Ebru Ciaravino.
Eglizeau joined Societe Generale’s Prime Services team as the Global Head of Sales for Professional Trading Groups. Prior to working with the firm, he was the Chief Executive Officer for the Asia Pacific region for ABN Amro Clearing Bank.
Ciaravino, on the other hand, joined the company’s team in Frankfurt. There, he is part of the Prime Services sales force. Namely, he is in charge of German and Austrian clients. This is largely due to his experience at Deutsche Boerse/Eurex Group, where he was employed for more than 15 years.
“This reinforcement of the Prime Services offering is also part of the strategic plan developed by the Bank to build on its global markets top positioning in Europe,” added Frank Drouet, Global Head of Global Markets.
Societe Generale Corporate & Investment Banking announced this Monday that it will offer a clearing capability for its clients on derivatives and over-the-counter (OTC) products in the European Union (EU) by the end of this year.
According to the statement, the French multinational investment bank plans to open a financial hub in Paris, a move which seems to be a direct result of Brexit. By the end of this year, the Societe Generale’s Prime Services team of experts will be able to clear client trades directly from its platform in Paris.
The new unit will be joining several clearing houses in France’s capital. These include the London Stock Exchange’s LCH SA in Paris and Deutsche Boerse’s Eurex Clearing in Frankfurt.
According to a Societe Generale spokeswoman speaking to Reuters, the move was driven by the firm’s clients asking for their trades to be cleared within the EU. However, LCH SA will still be used for clearing credit default swaps, while interest rate swaps will be cleared by Eurex, the spokeswoman noted.
Commenting on the announcement, Christophe Lattuada, Global Head of Prime Services said: “Societe Generale works with clients daily on listed derivatives and OTC clearing by adapting its offering to their changing needs within the current uncertain regulatory environment. Our clients benefit from our long-standing presence in Paris and the well-established team delivering best in class client service.”
Societe Generale Bolsters Prime Services Team
Alongside the offering of clearing capabilities, Societe Generale has also been bolstering its Prime Services sales team in Continental Europe. This was achieved by the appointment of two senior members - Stéphane Eglizeau and Ebru Ciaravino.
Eglizeau joined Societe Generale’s Prime Services team as the Global Head of Sales for Professional Trading Groups. Prior to working with the firm, he was the Chief Executive Officer for the Asia Pacific region for ABN Amro Clearing Bank.
Ciaravino, on the other hand, joined the company’s team in Frankfurt. There, he is part of the Prime Services sales force. Namely, he is in charge of German and Austrian clients. This is largely due to his experience at Deutsche Boerse/Eurex Group, where he was employed for more than 15 years.
“This reinforcement of the Prime Services offering is also part of the strategic plan developed by the Bank to build on its global markets top positioning in Europe,” added Frank Drouet, Global Head of Global Markets.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!