Deutsche Bank and Societe Generale have joined FIA Tech’s ownership consortium and board of directors following its recent funding round.
The ownership consortium now consists of 11 global clearing firms and the Futures Industry Association. Deutsche Bank’s and Societe Generale’s investments bring the total funds raised to US$84.2 million.
Nick Solinger, president and CEO of FIA Tech, comments: “Deutsche Bank and Societe Generale will be joining our ownership consortium and supporting us on our next stage of development.
"We see this as a further testament to the industry support for our mission of creating innovative solutions for all users of exchange traded derivatives.”
Scott Andersen, Americas head of listed derivatives and over-the-counter clearing at Societe Generale, says: “Societe Generale is always looking to drive and support innovation in the industry.
“FIA Tech has a history of developing innovative tools to address challenges facing our industry and becoming part of the consortium that owns FIA Tech will enable Societe Generale to further partner with them to deliver solutions to better support our customers.”
