Wells Fargo Securities joins CME Group for clearing of listed futures and options
Date: Jan 25, 2013
Categories: Markets & Exchanges
Keywords: Wells Fargo Securities, CME Group
Charlotte, January 16th 2013 - Wells Fargo & Company announced today that its subsidiary Wells Fargo Securities, LLC has joined the CME Group, the world’s leading and most diverse derivatives exchange and clearing house, as a direct listed futures and options clearing member.
Wells Fargo Securities joined the CME Group as part of its continued expansion of clearing capabilities and to meet the needs of its customers. Additionally, Wells Fargo Securities supports the trading activity of clients by providing direct clearing services with major exchanges and central clearinghouses.
“Joining CME Group, one of the world’s leading derivatives marketplaces, is an important step towards offering a fully comprehensive, end-to-end derivatives solution for our customers,” said George Simonetti, managing director and head of Wells Fargo Securities Markets Clearing and Futures Execution business. “The further development of our Futures Commission Merchant (FCM) will allow us to meet the expanded needs of our clients who trade derivatives and are seeking a clearing partner that offers proven operational, financial and risk management expertise.”
“We are pleased that Wells Fargo has joined CME Clearing as a clearing member for listed futures and options,” said Kim Taylor, president, CME Clearing. “We continue to work to offer market participants a diverse pool of clearing membership and industry-leading risk management for their derivatives clearing needs.”
Re-disseminated by The Asian Banker