Socit Gnrale and Calyon have entered into exclusive negotiations regarding a possible merger of their brokerage activities, currently carried out by Fimat and Calyon Financial. The aim is to create a “world leader” in the execution and clearing of listed financial futures and options. A successful merger would create the third largest provider in the giant US market. The two French banks say the combined group would provide access to more than 70 derivatives exchanges to an international base of institutional clients. It would also be a major player in inter-dealer brokerage of OTC derivatives and securities, as well as offering prime brokerage services.
The proposed new group would be controlled equally by Socit Gnrale and Calyon, with headquarters located in Paris.
The two groups will now enter into a mutual due-diligence process with a view to signing a definitive agreement.