Nasdaq Commodities welcomes CACEIS Bank France as a new General Clearing Member (GCM).
As of September 30, 2014, CACEIS Bank France is entitled to clear Seafood contracts via their financial membership as well as for other listed derivatives on financial products with Nasdaq OMX Clearing AB.
Hubert Montcoudiol, Member of the Executive Committee of CACEIS, said: “This membership is an important step in the ongoing development of CACEIS Execution and Clearing services in Europe. With this new access to the traditional futures and options markets of Northern Europe, CACEIS strengthens its listed derivatives offer and now services its clients through a direct link to all major European markets."
"As a company of Credit Agricole Group, the historic banking leader in agriculture and agrifood and the first retail bank in France, CACEIS is committed to support the development of commodity derivatives in Europe. Through its global Prime Fund Solutions offer, CACEIS in France is now connected to 60 markets in listed derivatives and provides a comprehensive Execution and Clearing platform.”
Bjørn Sibbern, Global Head of Nasdaq Commodities, said: “As we continue to develop our presence in Europe, we are very pleased to expand our list of GCMs for Seafood. CACEIS’ commitment in the commodity sector will give further participants access to our clearing portfolio. We look forward to working together to bring additional liquidity at a time of exciting development for Nasdaq in the commodities space.”