Wells Fargo Securities Joins CME Group for Clearing of Listed Futures and Options
Wells Fargo & Company (NYSE:WFC) announced today that its subsidiary
Wells Fargo Securities, LLC has joined the CME Group, the world’s
leading and most diverse derivatives exchange and clearing house, as a
direct listed futures and options clearing member.
Wells Fargo Securities joined the CME Group as part of its continued
expansion of clearing capabilities and to meet the needs of its
customers. Additionally, Wells Fargo Securities supports the trading
activity of clients by providing direct clearing services with major
exchanges and central clearinghouses.
“Joining CME Group, one of the world’s leading derivatives marketplaces,
is an important step towards offering a fully comprehensive, end-to-end
derivatives solution for our customers,” said George Simonetti, managing
director and head of Wells Fargo Securities Markets Clearing and Futures
Execution business. “The further development of our Futures Commission
Merchant (FCM) will allow us to meet the expanded needs of our clients
who trade derivatives and are seeking a clearing partner that offers
proven operational, financial and risk management expertise.”
“We are pleased that Wells Fargo has joined CME Clearing as a clearing
member for listed futures and options,” said Kim Taylor, president, CME
Clearing. “We continue to work to offer market participants a diverse
pool of clearing membership and industry-leading risk management for
their derivatives clearing needs.”
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets
products and services, including public debt and equity origination and
distribution, interest rate, commodity and equity risk hedging, mergers
and acquisitions advice, prime services, structured lending facilities
and municipal bond origination. The institutional capital markets
business is comprised of more than 4,000 team members in 40+ offices
across the U.S., Europe and Asia.
Wells Fargo Securities is the trade name for certain capital markets and
investment banking services of Wells Fargo & Company and its
subsidiaries, including Wells Fargo Securities, LLC, member NYSE, FINRA,
NFA and SIPC, Wells Fargo Institutional Securities, LLC, member FINRA
and SIPC, Wells Fargo Prime Services, LLC, member FINRA, NFA and SIPC,
Wells Fargo Bank, National Association, Wells Fargo Securities
International Limited (authorized by the U.K. FSA), Wells Fargo
Securities Asia Limited (licensed by the HK SFC), and Wells Fargo
Securities (Japan) Co., Ltd. (registered with the KLFB).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.4 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 9,000 stores, 12,000 ATMs, the Internet
(wellsfargo.com), and has offices in more than 35 countries to support
the bank’s customers who conduct business in the global economy. With
more than 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2012 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help
them succeed financially.