SEB Futures has become the first firm to receive approval to
serve as a remote clearing member of Chicago Mercantile
Exchange and Chicago Board of Trade. The move marks a step in
SEB's strategy to create a global central clearing operation
with direct connection to all major derivatives exchanges from
its derivatives centre in London.
Global head of SEB Futures Ulla Nilsson said the "ground
breaking structure" would allow European clients active on the
US exchanges to clear directly with a member in their own time
zone for the first time. "Through our membership we can now
also offer our clients more effective handling of their
transactions, while at the same time improve our risk
management and reduce operational risk." She added that the
structure offered benefits to clients in terms of service STP
capabilities, speed and system integration, regardless of which
of the major exchanges they operate on.
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