GDF Suez chooses bank status for new trading arm
European energy giant GDF Suez this week launched a new trading unit, choosing to obtain bank status that prepares it for potentially tougher European regulation of commodity trading
GDF Suez Trading, formed by merging the trading teams of Gaselys and Electrabel, started market operations on May 2, 2011. GDF Suez expects synergies from the merger to add €70 million to the company's revenues on a full-year basis, and for the longer term has structured the new trading unit to be ready for possible stricter European regulation of commodity markets.
GDF Suez Trading will have Investor Services Provider (ISP) status, operating under the supervision of the French and Belgian
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