Newedge to join forces with GMEX Group

LONDON - Nov. 5, 2013 - PRLog -- Newedge, a global leader in multi-asset brokerage and clearing, today announced that it is to join forces with Global Markets Exchange Group International LLP (“GMEX Group”). GMEX Group is an exchange business focused on the launch of new products, including differentiated Interest Rate Swap Futures contracts, and derivatives indices, as well as exchange business partnerships in emerging markets enabled by multi-asset trading technology.

Newedge UK Financial Limited plans to become a trading and clearing member of Global Markets Exchange Group Limited (”GMEX”), a wholly-owned subsidiary of GMEX Group, which is expected to go live during the first half of 2014 to operate as a Multilateral Trading Facility (“MTF”), subject to regulatory approval from the UK Financial Conduct Authority (”FCA”).

The initial launch is focused on GMEX’s pioneering Constant Maturity Futures (“CMF”) contract, which addresses the complications of hedging interest rates that are associated with the standard quarterly expiring futures contracts. Newedge  aims to offer execution and clearing services for this and future GMEX products to its global client base that includes asset managers, hedge funds, sell side banks and futures trading firms.

"With this cooperation, Newedge is supporting innovation in new exchange listed derivatives products, which will enable institutions to reduce balance sheet costs and achieve margining efficiencies," said Chris Topple, Global Head of Prime Clearing Services at Newedge. "Our market research indicates significant levels of interest in the GMEX exchange platform, not least because it is a timely and relevant response to help meet the G20-led market reforms to reduce systemic risk by moving bi-laterally managed OTC derivatives to transparent electronic trading venues supported by central counterparty clearing houses."

“We welcome this collaboration with such a key global derivatives prime broker to support our international growth, development and distribution. We look forward to working closely with Newedge as a trading and clearing member of the GMEX exchange, to the benefit of buy side, sell side and futures trading firms across the world,” said Hirander Misra, CEO and Co-Founder of GMEX Group.

-Ends-

Media Contacts:

Newedge:
Richard Newman: +44 207 550 2492, richard.newman@newedge.com
Nicole Wesch: +44 207 550 2057, nicole.wesch@newedge.com

GMEX Group:
Melanie Budden, The Realization Group: +44  7974 937 970, melanie.budden@therealizationgroup.com

About Newedge
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 19 locations in 14 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 2,700+ employees form a close-knit, multinational team that can innovatively respond to its clients in fast-moving markets.

For more information, visit www.newedge.com

About GMEX Group
Global Markets Exchange Group International LLP is a group of companies that offer ethical, sustainable and innovative solutions for the new age of global financial markets, encompassing:

*  Creation and operation of low cost electronic exchanges in equities, debt, FX, derivatives and commodities in developing and, in a targeted way, developed markets
*  Development of related new tradable market and product indices
*  Interconnectivity of exchanges to each other and to the GMEX London based exchanges creating a global network of liquidity
*  Trading of partner exchange products on GMEX in London and relevant GMEX products on the partner exchange based on a revenue share model
*  Business development to enhance liquidity in partner exchange products
* Consultancy on exchange strategy, product development, clearing and regulation
*  Provision of platform technology
. For more information, visit www.gmex-group.com

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