Société Générale and Calyon finalise brokerage merger

Newedge, will be controlled 50:50 by Société Générale and Calyon and will have a bank status. It will be headquartered in Paris, and is expected to have a combined staff of around 3,000. On a pro forma basis as at December 31, 2006, the combined entity handled more than 1.3 billion contracts, with sales of over €1 billion ($1.38 billion).

In addition to its core business as a Futures Commission Merchant (FCM), the new entity will continue to offer a range of complementary execution services on

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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