Fortis, the global financial services provider, today
announced it has finalized the merger of Fortis Clearing Chicago and
Chicago-based O'Connor & Company.
Fortis Clearing Chicago was legally merged into O'Connor & Company
on August 31, 2006. The merged company will continue under the name
Fortis Clearing Americas LLC. All accounts held by the two firms will
be transferred to the new operating company.
This merger substantially increases Fortis's clearing activities
on the U.S. equity, futures and options markets. It also forms a key
part of Fortis's international growth strategy to give its clients
global reach with local presence and expertise wherever it operates.
The agreement to acquire O'Connor & Company was announced on
November 9, 2005 and has received the required approvals from all
regulatory agencies, exchanges and clearing organizations.
Fortis Clearing Americas LLC is part of the Merchant Banking
division of Fortis. It is one of the largest independent third-party
clearers in Europe, Asia/Pacific and the U.S. and offers clearing
services for the derivatives, equities, bonds and commodities markets.
In addition to Chicago, Fortis Clearing has offices in Amsterdam,
Brussels, Frankfurt, Paris, London, Hong Kong, Singapore and Sydney,
with more than 500 employees worldwide. It has General Clearing
Memberships at 21 exchanges and access to other major exchanges
through third-party relationships.
Fortis
Fortis is an international financial services provider engaged in
banking and insurance. We offer our personal, business and
institutional customers a comprehensive package of products and
services through our own channels, in collaboration with
intermediaries and through other distribution partners. With a market
capitalisation of EUR 39.5 billion (31/08/2006), Fortis ranks among
the twenty largest financial institutions in Europe. Our sound
solvency position, our presence in 50 countries and our dedicated,
professional workforce of 58,000 enable us to combine global strength
with local flexibility and provide our clients with optimum support.
More information is available on www.fortis.com
Fortis Merchant Banking
Merchant Banking is the internationally operating wholesale bank
of Fortis. It provides tailored financial services to corporate and
institutional clients. Merchant Banking is active in several areas,
including treasury, fixed income, energy, commodities and equities
(including derivatives and structured products), corporate finance,
capital markets, cash management, asset financing, project finance,
private equity and structured credits. It is also specialised in fund
administration, global custody, securities lending and clearing
services.
More information is available on www.merchantbanking.fortis.com
