MGEX Adds Wells Fargo Securities, LLC as a New Clearing Member
21 May 2015 - 1:01AM
Business Wire
MGEX, a Designated Contract Market (DCM) and Derivatives
Clearing Organization (DCO), and Wells Fargo & Company are
pleased to announce that Wells Fargo Securities, LLC has joined as
MGEX’s newest clearing member.
Wells Fargo Securities, LLC delivers high-quality execution and
clearing of futures and options, as well as clearing of
over-the-counter derivatives, to institutional customers.
“We are excited to welcome Wells Fargo Securities as a new
clearing member,” said Mark G. Bagan, president and CEO of MGEX.
“Wells Fargo’s long-standing history and respected reputation fits
well with MGEX’s goal of pursuing continued growth within the
derivatives industry.”
“Wells Fargo Securities joined MGEX to continue expanding our
direct clearing capabilities across exchanges that are important to
Wells Fargo’s corporate and commercial clients,” states Jeff G.
Gore, managing director and head of Derivatives Clearing Sales at
Wells Fargo Securities, LLC. “Our clients are attracted to our
strong capital base, brand reputation and client-centric service
model. As one of the nation’s largest lenders to the food and
agribusiness sector, it was a logical next step in Wells Fargo
Securities’ growth strategy to further develop our Futures
Commission Merchant to support our clients and their risk
management needs.”
Find more information on MGEX at www.mgex.com.Follow us on
Twitter. Find us on Facebook.
Find more information on Wells Fargo Securities at
wellsfargo.com/com/securities.
About MGEX
MGEX, a Designated Contract Market (DCM) and Derivatives
Clearing Organization (DCO), was established in 1881 and is the
only market for Hard Red Spring Wheat (HRSW), Apple Juice
Concentrate (AJC), National Corn Index (NCI), National Soybean
Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring
Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures
and options. Additionally, MGEX now offers calendar spread options
(CSOs) for the North American HRSW contract, as of February 1,
2015. To learn more about MGEX, visit www.mgex.com.
About Wells Fargo Securities, LLC
Wells Fargo Securities, LLC is a Commodity Futures Trading
Commission registered Futures Commission Merchant and Securities
and Exchange Commission registered Broker-Dealer.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital
markets and advisory products and services, including debt and
equity origination and distribution, investment research and
economic insights, interest rate, commodity and equity risk
management, structured lending facilities, securitization, prime
brokerage, clearing and fund services. Wells Fargo Securities is
comprised of nearly 4,800 team members in 40+ offices across North
America, Europe and Asia.
Wells Fargo Securities is the trade name for the capital markets
and investment banking services of Wells Fargo & Company and
its subsidiaries, including Wells Fargo Securities, LLC, a CFTC
registered futures commission merchant and a member of NYSE, FINRA,
NFA and SIPC, Wells Fargo Securities International Limited which is
authorized and regulated by the UK Financial Conduct Authority and
Wells Fargo Bank, National Association. Wells Fargo Securities, LLC
and Wells Fargo Securities International Limited are distinct
entities from affiliated banks and thrifts.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a nationwide,
diversified, community-based financial services company with $1.7
trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments,
mortgage, and consumer and commercial finance through more than
8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and
mobile banking, and has offices in 36 countries to support
customers who conduct business in the global economy. With
approximately 266,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was
ranked No. 29 on Fortune’s 2014 rankings of America’s largest
corporations. Wells Fargo’s vision is to satisfy all our customers’
financial needs and help them succeed financially. Wells Fargo
perspectives are also available at Wells Fargo Blogs and Wells
Fargo Stories.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520005294/en/
MGEX Media Contact:Jesse Marie Green,
612-321-7122marketing@mgex.comorWells Fargo
Media Contact:Jessica R. Ong,
212-214-8242jessica.r.ong@wellsfargo.com
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