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SGSS to process Agence France Locale derivatives operations

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Societe Generale Securities Services (SGSS) and its derivatives broker, Newedge, has secured a mandate from Agence France Locale to process its OTC derivatives operations.

Societe Generale won this mandate following an RFP which was issued for the creation of Agence France Locale, recognising the breadth of the bank’s offer and its overall expertise in managing outsourced back-and middle-office functions for derivatives.
 
The offer retained by Agence France Locale, “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, in particular custody, clearing and settlement, middle-office operations and collateral management.
 
SGSS has also been retained to provide custody services for the cash portfolio held by Agence France Locale.
 
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. 

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