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The arrival of the OTCex Group strengthens Geneva’s position in commodities trading

30/11/2010

The OTCex Group, one of the main financial intermediaries in Europe, has just opened in Geneva a branch of its investment company VANILLA TECHNOLOGY. The new entity, which is entirely dedicated to commodities, thus benefits from a privileged financial and banking environment in which to continue the expansion of its operations. By establishing this branch, the company intends to move closer to its clients and strengthen its links with the main trading players, who are all represented in Geneva. The establishment of this branch, which is supported by the Geneva Economic Development Office (GEDO), confirms the importance of Geneva in specialized trading services.VANILLA TECHNOLOGY, Paris, Geneva branch, the head office of which is based in Paris, started its operations in September 2010. A member of the OTCex Group, a finance company with 150 employees and offices in Paris, London, Frankfurt, Geneva and Hong Kong, the company specializes in equity derivatives, as well as in energy and agricultural commodities. The Geneva branch numbers about ten employees, half of whom devote their time to the sugar, cereals and oil markets, and the other half covering the electricity market.A new office driving the expansion strategyBenefiting from a portfolio of some 500 clients, the OTCex Group wishes to expand and strengthen its presence in Europe. In the view of Olivier Stephanopoli, Deputy CEO of the OTCex Group, "The opening of this branch supports our growth strategy in high-value-added lines of business. From Geneva, we will be able to serve our clients more effectively in services such as execution, consulting, in-depth market research or clearing and financing for all segments of the commodities market. This base also offers us an opportunity to strengthen our business relations in general, since the majority of the industry’s players on the European continent are concentrated in Geneva." The new branch will also make it possible to continue the company’s strategic development in two main directions: the extension of the existing lines of business (in particular on CO2, coal and gas) and deployment in other sectors of commodities.The Geneva Economic Development Office is supporting VANILLA TECHNOLOGY in its expansion, in particular by offering its networking services and its expertise on general business conditions. According to Daniel Loeffler, GEDO's Director, "The opening of the VANILLA TECHNOLOGY office reflects Geneva’s growing attractiveness in international trading. It further strengthens the regional base of this sector and enhances the network of companies offering specialized services to major players located in our canton."Contact person for further information:Service de la promotion économiqueDaniel Loeffler, DirecteurTél.: +41 (22) 388 34 34daniel.loeffler@etat.ge.chwww.whygeneva.ch ; www.ge.ch/dares orVANILLA TECHNOLOGY, Paris, succursale de GenèveOlivier Stephanopoli, Deputy CEO, Groupe OTCexTél: +41 (0)22 545 92 00olivier.stephanopoli@otcexgroup.comwww.otcexgroup.com

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