BBVA has reached an agreement with Société Générale (SG) to integrate Altura Markets into the BBVA Group by acquiring the 50 percent stake currently owned by the French bank, becoming the company’s sole shareholder. The transaction is subject to the relevant regulatory approvals.

Since its establishment as a partnership between BBVA and Société Générale, Altura Markets has become the leading broker for listed futures and options in Spain and Portugal. Through this transaction, BBVA will integrate Altura Markets into the Group, strengthening its growth strategy in the Markets Services business and consolidating a comprehensive execution and clearing platform for institutional clients.

Antonio Ordás, Head of Global Markets at BBVA, said: “Our clients increasingly demand integrated, efficient and global solutions. This transaction represents a strategic step forward in consolidating a single Markets Services platform that strengthens our ability to support clients across all of their execution and clearing needs.”

Clients will benefit from a more integrated offering and enhanced access to trading venues and clearing houses through an optimized platform, supported by more efficient capital and liquidity management.

The transaction marks a new chapter in the relationship between BBVA and Société Générale. Over the coming years, SG will continue to provide technology services and access to clearing houses, allowing BBVA to continue delivering a best-in-class service to its clients.

Hatem Mustapha, Head of Global Markets at Société Générale, said: “As a global leader in Prime Services and Clearing, we remain committed to deliver efficient, safe and reliable services to BBVA and Altura Markets through this renewed partnership”.

The integration of Altura will leverage BBVA’s financial strength and will enhance its access to liquidity, further strengthening its ability to deliver a more efficient service.

Source: BBVA