CHARLOTTE - January 16, 2013
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.