Milano, 29th April 2002
IntesaBci has been appointed General Clearing Member for derivatives listed on the Euronext market, via its London branch and is the only Italian bank with this position in that market.
This achievement, to be added to the status of General Clearer for the Eurex and LIFFE markets, further expands IntesaBci's clearing capabilities at the pan-European level and places the Bank in a leadership position in the Italian banking panorama.
As part of this strategy aimed at increasing capabilities and commitment, IntesaBci – London Branch will have responsibility over all the clearing activities on listed derivatives, while Caboto Securities Ltd remains the Group company in charge of distribution of brokerage services to Italian and international customers.
Euronext, first cross-border European market, was formed on 22nd September 2000 via the integration of the Exchanges of Amsterdam, Brussels and Paris and at the end of January 2002 also of the Lisbon Stock Market. At the end of last year, Euronext guaranteed the negotiation of over 398 million derivative contracts and recently closed the purchase of LIFFE.
Eurex is the most important derivatives exchange world-wide since it has long surpassed the US markets by trading 675 million derivative contracts in 2001. The world market for execution and clearing of listed derivative instruments presents one of the highest growth rate in terms of volumes traded, range of products offered and number of participants.
IntesaBci appointed general clearing member of the euronext market
Last updated 29 April 2002 at 12:53