Fimat to become CLS member
Michael Bailey, head of sales and trading at Fimat, a subsidiary of Société Générale, in London, said that the firm decided to join as a third-party member to free up credit lines amid increasing volumes in the past two years. FX volumes have risen over 300% since 2003.
"Our volumes have been growing significantly over the past two years, where previously the cost savings weren't there," said Bailey. "But now our volumes are so big that it's actually flipped the other way, in that it alleviates
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