SGSS wins Agence France Locale mandate
Societe Generale Securities Services (SGSS) and Societe Generale's derivatives broker, Newedge, has been mandated by Agence France Locale to process its OTC derivatives operations.
Societe Generale won this mandate following a request for proposal which was issued for the creation of Agence France Locale.
The offer retained, Orchestra, which combines the expertise of SGSS and Newedge, comprises a range of services from the securities services business which covers the whole value chain for derivatives.
SGSS has also been retained to provide custody services for the cash portfolio held by Agence France Locale, thus increasing the range of assets under custody and establishing a cross-asset service.
Launched in October 2013, Agence France Locale is the union of all types of French local authorities around a single mission: to fund their investments without an intermediary. The firm says that this pooled access to the financial market offers members simple loans with optimal conditions.
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Societe Generale won this mandate following a request for proposal which was issued for the creation of Agence France Locale.
The offer retained, Orchestra, which combines the expertise of SGSS and Newedge, comprises a range of services from the securities services business which covers the whole value chain for derivatives.
SGSS has also been retained to provide custody services for the cash portfolio held by Agence France Locale, thus increasing the range of assets under custody and establishing a cross-asset service.
Launched in October 2013, Agence France Locale is the union of all types of French local authorities around a single mission: to fund their investments without an intermediary. The firm says that this pooled access to the financial market offers members simple loans with optimal conditions.
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