Newedge Group

Newedge Group was a global institutional brokerage and financial-markets services firm created in 2008 through the merger of Fimat, the brokerage arm associated with Société Générale, and Calyon Financial, the brokerage arm associated with Crédit Agricole. The combination brought together two established derivatives and execution businesses and created a large multi-asset intermediary serving professional and institutional clients rather than retail investors. The company operated primarily as an execution, clearing and financing intermediary. Its activities covered futures, options, equities, fixed-income instruments, interest-rate products, foreign exchange, commodities, metals, energy, emissions and related over-the-counter derivatives. Newedge also provided access to exchange-traded funds, cash markets and a broad range of listed and OTC instruments. Its service model combined trade execution, clearing, prime brokerage, global asset financing, research, electronic order routing and portfolio-processing capabilities. Newedge was particularly associated with the futures commission merchant market. The business gave clients access to more than 85 exchanges and maintained operations in 14 countries. Its institutional customer base included professional trading firms and other market participants requiring cross-border execution, clearing, margining, financing and centralized reporting. The company also developed technology and infrastructure for electronic trading, order management and cross-margining, allowing clients to coordinate positions and collateral across products and venues. The roots of the business extended well before the Newedge name. Calyon Financial developed from Carr Futures, established in Chicago, Paris and Singapore in 1987. Crédit Agricole acquired Carr in 1996, after which the business expanded into additional institutional futures, commodities and foreign-exchange activities and added offices in several major financial centers. It adopted the Calyon Financial name in 2004. Fimat was established in 1986 after the creation of France's futures and options exchange and subsequently expanded its futures, commodities and foreign-exchange operations through new offices, acquisitions and product development. The 2008 merger was intended to create a broader international platform at a time when institutional clients increasingly wanted consolidated access to multiple asset classes and markets. Newedge combined the predecessor firms' geographic coverage, exchange memberships, clearing capabilities and technology. It became one of the world's largest futures commission merchants and employed approximately 2,400 associates according to the referenced company description. Newedge later ceased to operate as an independently owned joint venture when Société Générale acquired Crédit Agricole's stake in 2014. The transaction returned full ownership to Société Générale and led to the integration of the Newedge business into Société Générale's broader markets operations. As a result, Newedge is best understood as a former financial-services brand rather than an active standalone brokerage today.

Newedge Group was established in 2008 through the merger of Fimat and Calyon Financial. Both predecessor businesses were connected to major French banking groups and had developed substantial institutional brokerage, futures and clearing operations before the combination. Calyon Financial's history began with Carr Futures, which was established in Chicago, Paris and Singapore in 1987. Carr expanded its presence during the early 1990s by opening offices in London, Madrid, New York and Tokyo and by acquiring brokerage personnel and capabilities associated with Drexel. Crédit Agricole acquired Carr in 1996. The business then broadened its activities, acquiring the institutional futures division of Dean Witter in 1997 and adding exposure to commodities and foreign exchange. During the early 2000s, it established or expanded offices in Houston and Montreal. The business adopted the Calyon Financial name in 2004. Fimat was established in 1986 following the creation of France's futures and options exchange. Its international expansion included the creation of Fimat Futures USA in Chicago in 1989, the launch of a U.S. value-added futures execution desk in New York in 1991 and the opening of a Canadian office in 1994. Fimat acquired Brody White in 1995, helping it diversify into commodities. It launched a global foreign-exchange product line in 1999 and began developing cross-margining capabilities through its Fimatrix project in 2001. Further expansion came through the acquisition of assets from Preferred Trade in the United States in 2005, Cube Financial in 2006 and Japanese commodity broker Himawari in 2007. The 2008 merger united these platforms under the Newedge name. The resulting company focused on institutional clients and offered execution, clearing, prime brokerage, financing and research across a wide range of asset classes. It also provided electronic trading and order-routing tools, cross-margining services and centralized processing and reporting for client portfolios. Newedge's market coverage included more than 85 exchanges and products spanning futures, options, equities, fixed income, interest rates, foreign exchange, commodities, metals, energy, emissions, exchange-traded funds, cash markets and OTC derivatives. The combined firm became a major futures commission merchant with operations in 14 countries and approximately 2,400 associates. Its value proposition was based on integrating market access, trade execution, clearing and financing rather than offering a single financial product. This structure allowed professional clients to use one intermediary across multiple exchanges and asset classes. In 2014, Société Générale acquired Crédit Agricole's interest in Newedge. The transaction ended the joint ownership established at the company's formation and placed the business fully under Société Générale. Newedge was subsequently integrated into Société Générale's markets organization, ending its existence as an independent corporate brokerage brand.

• 2014

  Société Générale took full ownership

  [1]Newedge Groupen.wikipedia.org

  Société Générale acquired Crédit Agricole's stake, after which Newedge was integrated into Société Générale.

• 2008

  Newedge Group formed

  [1]Newedge Groupen.wikipedia.org

  Fimat and Calyon Financial merged to create Newedge Group.

• 2004

  Carr business renamed Calyon Financial

  [1]Newedge Groupen.wikipedia.org

  The Carr-derived brokerage adopted the Calyon Financial name.

• 1999

  Fimat launched its global foreign-exchange product line

  [1]Newedge Groupen.wikipedia.org

  Fimat expanded beyond exchange-traded brokerage by introducing a global FX offering.

• 1996

  Crédit Agricole acquired Carr Futures

  [1]Newedge Groupen.wikipedia.org

  Crédit Agricole acquired Carr, bringing the futures brokerage into its financial-services group.

• 1989

  Fimat Futures USA formed

  [1]Newedge Groupen.wikipedia.org

  Fimat established its U.S. futures subsidiary in Chicago.

• 1987

  Carr Futures established

  [1]Newedge Groupen.wikipedia.org

  Carr Futures began operations in Chicago, Paris and Singapore, forming the early foundation of the later Calyon Financial business.

• 1986

  Fimat established

  [1]Newedge Groupen.wikipedia.org

  Fimat was created following the establishment of France's futures and options exchange.

Newedge was positioned as a global, institution-focused multi-asset intermediary combining execution, clearing, financing, prime brokerage and market access across listed and OTC markets.

• Brokerage and execution · 2008

  Global asset execution

  Newedge executed institutional orders across listed and OTC markets, including futures, options, equities, fixed-income products, foreign exchange, commodities and related derivatives. Its international platform was designed to connect professional clients with numerous exchanges and trading venues through a single brokerage relationship.

• Clearing · 2008

  Global asset clearing

  The firm provided clearing services for exchange-traded derivatives and other eligible instruments. Clearing was a central part of its futures commission merchant model and allowed institutional customers to consolidate post-trade processing and collateral management.

• Institutional financing · 2008

  Prime brokerage and financing

  Newedge offered prime brokerage solutions and global asset financing for institutional clients. These services complemented execution and clearing by supporting trading relationships, financing requirements and the operational handling of positions across multiple markets.

• Trading technology · 2008

  Electronic trading and order routing

  The company supplied electronic tools for trading and order routing. Its technology offering helped clients send orders to relevant exchanges and venues while integrating execution workflows with clearing, margining and portfolio reporting.

• Risk and operations · 2008

  Cross-margining and portfolio reporting

  Newedge provided cross-margining capabilities and centralized processing and reporting for client portfolios. These functions were intended to improve the operational coordination of positions and collateral across asset classes and trading venues.

• 2014

  Société Générale acquired Crédit Agricole's Newedge stakeM&A

  Background

  Newedge had been jointly owned by Société Générale and Crédit Agricole since its formation.

  Action taken

  Société Générale acquired Crédit Agricole's interest and became the sole owner of Newedge.

  Aftermath

  The Newedge business was integrated into Société Générale's markets operations and ceased to operate as an independently owned standalone brokerage brand.

  Source

• 2008

  Combine Fimat and Calyon FinancialM&A

  Background

  Société Générale and Crédit Agricole held complementary institutional brokerage businesses with international futures, clearing and multi-asset capabilities.

  Action taken

  The two banking groups merged Fimat and Calyon Financial into a new company named Newedge Group.

  Aftermath

  The merger created a large global intermediary focused on institutional execution, clearing, prime brokerage, financing and research.

  Source

1. 1Newedge Groupen.wikipedia.org