NewswireToday - /newswire/ -
New York, NY, United States, 2012/07/12 - Newedge, a global leader in multi-asset brokerage and clearing, announced today its cooperation with Thales Trading Solutions, a newly created, non-guaranteed Introducing Broker based in New York City.
Thales was founded by Stephan Solomon and Marc Cohen, two former Newedge employees who headed the Firm’s Financial Services Group, in response to increasing client demand for a wider scope of services in addition to the traditional FCM model.
Thales will be fully operational on July 23, offering introduction services across multiple brokers, and a platform providing additional value added services.
Newedge will provide its full range of best practice multi-asset trading and clearing services to clients introduced by Thales.
Nicolas Breteau, CEO at Newedge, said: “This new venture enables us to continue to work closely with highly-regarded industry experts such as Stephan and Marc, whilst focusing on our core competencies. In short, we are creating a new type of selling relationship. In a fluid market, such agility and adaptability are central to strengthening our position as the world’s leading independent agency broker.”
Stephan Solomon, Chairman at Thales, commented,“Our business model adds value and gives choice to clients in the evolving regulatory environment, and we look forward to working closely with Newedge."
Bill Ferri, +1 212 754 5428 - E: bferri[.]intermarket.com
Michael Gelormino, +1 212 909 4780 - E: mgelormino[.]intermarket.com
Tracy Ho, +852 3655 0515, tracy[.]ryanfin.com
Newedge, a 50/50 joint venture between Société Générale and Crédit Agricole CIB, is a major force in global multi-asset brokerage business, with a world-leading position in the execution and clearing of listed derivative products. With a presence in more than 20 locations in 16 countries, 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 provides a range of value added services, including prime brokerage, asset financing, an electronic platform for trading and order routing, cross margining, and the centralized reporting of client portfolios. Newedge, which primarily serves institutional clients, provides access to more than 85 exchanges. Newedge's 3,000+ employees form a close-knit, multinational team that can innovatively respond to its clients in fast-moving markets.
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