Société Générale, the parent bank of futures commission merchant (FCM) Fimat, and Calyon acknowledged plans to merge the brokerage activities of Fimat and Calyon Financial.
Reports of a tie up of the two French FCMs first surfaced last summer but neither side confirmed them and talks apparently stalled.
The newly formed entity would be the third largest FCM in the United States with $11.4 billion in U.S. customer segregated funds based on CFTC data. The proposed new group would be controlled equally by Société Générale and Calyon, with headquarters located in Paris.
