Societe Generale Corporate & Investment Banking has received the status of Gilt-Edged Market Maker (GEMM) by the UK Debt Management Office and the London Stock Exchange, with effect from September 1, 2010.
The grant allows Societe Generale Corporate & Investment Banking to become a primary dealer in gilts, UK government bonds in sterling, issued by the UK Treasury.
The GEMM status will enable the bank to participate directly in gilt auctions, while playing an active role in the issuance, distribution and marketing of UK government debt.
Chico Khan-Gandapur, global head of flow fixed income & currencies at Societe Generale Corporate & Investment Banking, said: “The GEMM status is a natural step in the development plans of Societe Generale Corporate & Investment Banking, adding a further European primary dealership to our existing capabilities across the euro zone and Central and Eastern Europe.
“It will also strongly position us with existing as well as new clients, while further enhancing our capabilities as a key worldwide
Demetrio Salorio, global head of debt capital markets at Societe Generale Corporate & Investment Banking, said: “This new primary dealership further extends the bank’s presence as a partner in the execution of issuance programs to European countries. Together with our leading euro primary capabilities, the GEMM status enables us to provide our issuer clients around the world with first-class primary advice and execution services into the two main European fixed-income markets.”