Newedge, the multi-asset brokerage and clearing firm, has been granted branch licenses from FINMA, the Swiss regulator, in Zurich and Geneva.
With full regulatory approval, Newedge in Switzerland will be able to expand the scope of the service it is already providing to Swiss institutional clients. From the existing offices, Newedge has been offering an execution service across several asset classes: listed financial derivatives, equities and ETFs, and promoting clearing and prime brokerage services. Swiss Clients will now be serviced by a single local office, rather than dealing directly with several Newedge offices worldwide.
We have been working for a long time under the constraints implicit of rep offices, so this new branch status really expands the opportunities of what we can do in Switzerland, says Franck Borgel, country head for Newedge Germany & Switzerland. There is a lot of potential for growth, as we continue to offer our clients existing benefits and a high level of service with an enhanced local presence.”