The chief executive of the French futures broker said he is focused on enabling the efficient allocation of resources
David Escoffier may have been running Newedge for just six
months but the deputy head of global markets at Societe
Generale is clear about the challenges facing his firm and its
Derivatives clearing is now a commoditised business
populated by dozens of 'one-stop shop’ brokers
struggling to justify the cost of providing a service that is
starting to feel like a problem rather than an opportunity.
Escoffier, who took over as the chief executive of Newedge
in November after SG bought from Credit Agricole the half of
the futures firm it did not own, expects consolidation among
providers and higher fees over the medium term.
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