With the addition of these two institutions, FIA Tech’s ownership consortium will comprise eleven global clearing firms as well as the Futures Industry Association. Investors now include Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, Societe Generale, UBS and Wells Fargo. This investment adds $14.8 million to the $25.4m raised in April 2023 for the strategic growth of the Trade Data Network.

Gordon Alexander, Global Head of Workflow Solutions, Listed Derivatives and Clearing at Deutsche Bank said, “We see value in the industry coming together to realise best in class solutions for the Exchange Traded Derivatives market. Joining FIA Tech is an opportunity for Deutsche Bank to demonstrate its commitment as a leading global clearing Bank, contribute to developing the ETD market offering to meet client needs, and collaborate effectively with our peers to enhance transparency and efficiency across the industry.”

Scott Andersen, Americas Head of Listed Derivatives and OTC Clearing at Societe Generale said: “As one of the leading global FCMs in the market, 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 SG to further partner with them to deliver solutions to better support our customers.”

Nick Solinger, President and CEO of FIA Tech, said: “We are delighted that 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.”