Fortis Bank says its GLSA securities lending and arbitrage unit has opened an operation in Copenhagen. Fortis Arbitrage Europe A/S has applied to the Danish regulator for a broker-dealer licence.
“Establishing a Danish presence was done in close cooperation with colleagues from MeesPierson Intertrust,” says a Fortis Bank spokeswoman. “Fortis Arbitrage Europe A/S will give access to the Scandinavian markets and will employ local arbitrage opportunities for proprietary trading which will enhance GSLA’s competence as principal traders.”
Lars Andreas Nilsen, Managing Director of Fortis Arbitrage Europe A/S, says GSLA expects Fortis Arbitrage Europe A/S to become the leading trading unit in the Nordic region. “The derivatives trading strategies will provide additional liquidity to the Danish equity market,” he says. “Key recruitments have been made, and more top professionals will be hired in the Scandinavian financial markets in due course.”