Soc Gen's Fimat Futures Asks Fed For Permission To Trade Forex EFPs

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Fimat Futures USA, the wholly-owned futures broking and clearing subsidiary of French banking giant Société Générale, has filed an application with the U.S. Federal Reserve Bank to expand its previously authorised foreign exchange-related business to include acting as riskless principal in spot, forward and OTC options transactions in the forex market, say officials.

Its primary intention is to acquire the capacity to operate an exchange-for-physical (EFP) desk in the U.S., according to

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