Fortis Bank Information Banking, a business line of Fortis Bank, will offer its clearing services in Frankfurt under the name Fortis Bank Global Clearing Frankfurt Branch.
This follows the announcement of the official bank status in the Netherlands of Fortis Bank Global Clearing N.V. in September 2003.
“As trading equities and derivatives is becoming increasingly international, it was decided to create this new legal structure in which all of Fortis Clearing’s International activities are offered by one legal entity,” says a spokesman.
Fortis says the structure will bring multiple advantages: integrated services to customers, transparency of supervision and more efficient allocation of capital.
The services offered by Fortis Bank Global Clearing Frankfurt Branch are financing, clearing and settlement, stock borrowing and lending, cash management, risk management, and integration of both derivatives and cash positions.