MINNEAPOLIS--(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 Wells Fargo Securities at wellsfargo.com/com/securities.
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.