WeMatch goes live in the US.

Societe Generale and J.P. Morgan fully onboarded and active.

WeMatch has officially launched its US Total Return Swap (TRS) solution on Oct 6, 2020.

This new platform allows Dealers in the US to match, negotiate, import, and manage lifecycle and post-trade events on Total Return Swaps on US Equities.

Leveraging on the growing success of its offer in EMEA, WeMatch has launched activity in the US with multiple Tier-1 Dealers, including Societe Generale and J.P. Morgan, and is currently working on a pipeline of 14 other Dealers to join over the coming months.

In EMEA, the Securities Financing platform has already matched over 500bn$ of interests and currently manages average balances in excess of 35 bn$.

Joseph Seroussi, co-CEO at WeMatch

“Thanks to the help and input from our first batch of users, our technology has been adapted to the specificities of the US market, where automation is greatly needed to improve heavy manuals workflows. Our plug and play solution offers a lot of flexibility, instantly reducing operating risks and costs.“

Michael DiCesare, North America Head of Prime Finance Synthetic Trading and Financing at J.P. Morgan

“We are looking forward to implementing WeMatch’s technology to provide better efficiencies and straight through processing for total return swaps,” said Michael DiCesare, North America Head of Prime Finance Synthetic Trading and Financing, J.P. Morgan. “J.P. Morgan has been a long-time supporter of WeMatch and this is an exciting step in their journey to leverage technology to reshape the way market participants interact with one another in total return swaps.“

Albert Loo, Deputy Head of Sales for Global Markets at Societe Generale

“Societe Generale is very excited to be part of this important milestone reached by Wematch and to continue to contribute to their successful expansion. We’ve worked closely with them on this development and feel this is an important step forward to improve dealing processes on Total Return Swap across the cycle as well as to reinforce our US equity platform operational efficiency.”

About WeMatch:

Wematch is a financial technology company, offering a set of web-based tools designed to enhance the dealing process of financial institutions.

Its solutions are based around tailored matching, smart negotiation engines and life cycle management workflows. The company has focussed on four core markets: Securities Financing, OTC Equity Derivatives, Exchange listed Delta One and OTC cleared interest rates derivatives.

Wematch was founded in 2016 by market and technology experts who saw the opportunity to change the traditional methods of bringing together market participants in the financial markets.

The company is backed by JP Morgan and Societe Generale as part of their fintech incubator programmes.

About JP Morgan Corporate & Investment Bank:

J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $25 trillion of assets under custody and $458 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

Further information about J.P. Morgan is available at www.jpmorgan.com.

About Societe Generale:

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.

Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 138,000 members of staff in 62 countries and supports on a daily basis 29 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:

  • French Retail Banking which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
  • International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
  • Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.

Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index.

For more information, you can follow us on Twitter @societegenerale or visit our website http://www.societegenerale.com.