Newedge, the recently launched broker formed by French banks Societe Generale <SOGN.PA> and Credit Agricole <CAGR.PA>, had a “buoyant” second quarter, SocGen said on Tuesday.

“Newedge enjoyed buoyant business in Q2 2008 with 394 million trades executed and 442 million contracts cleared,” SocGen said in its second quarter results statement.

Newedge was formed last year in a merger between SocGen’s Fimat arm and Credit Agricole’s Calyon Financial division.

The brokerage is a global leader in derivatives and it also has a strong presence in commodities.

Source: http://www.afxnews.com

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