News and Press
| Date: | 4th April 2006 |
| Title: | Brokerage Firm Fimat Acquires Cube Financial |
| Author: | Andrea Hotter |
| Download: | pdf version |
Brokerage Firm Fimat Acquires Cube Financial
Fimat, one of the leading brokerage firms on international markets,
has acquired Cube Financial, a brokerage firm with offices in Chicago
and London, the company said Tuesday.
The deal is subject to the appropriate regulatory authorizations, Fimat
added.
Cube provides execution services to financial intermediaries and end-user
clients, specializing in exchange traded derivatives and securities. The
company employs in excess of 100 brokerage specialists.
According to Fimat, the acquisition of Cube complements its execution
and clearing capabilities and reinforces its position as a leading futures
and options brokerage.
"The combination of the two entities will allow Fimat to significantly increase the volume of its transactions in futures and options, and will further confirm Fimat's place as a top broker in the London market, "said Nicolas Breteau, CEO of Fimat U.K. and European Zone Managing Director.
Fimat Group CEO Patrice Blanc said the brokerage is "scaling up" with the acquisition, achieving "strong commercial synergies and benefits in terms of processes and systems."
Fimat is part of Societe Generale Securities Services.
The Cube group was formed in 1997, initially as a floor operation on the Liffe floor. The company has since evolved to embrace screen trading in a number of different products. Cube is a member of every major derivative and cash exchange in Europe and has a floor presence on the Chicago Board of Trade and Chicago Mercantile Exchange.