Wells Fargo: late entrant to the OTC clearing race
On lists of the top US futures clearers, one big US bank is conspicuous by its absence. Wells Fargo was ranked fourth by assets in the US according to the Federal Deposit Insurance Corporation as of September 30 last year, but despite the bank’s size, clearing has not been a priority business, says Jeff Gore, head of derivatives clearing services for Wells Fargo in Charlotte, North Carolina.
The Dodd-Frank Act is changing that. Like other banks, Wells Fargo will be required to use a clearing
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