Fimat Canada, part of global brokerage giant Fimat Group, has launched an inter-dealer brokerage business (IBD).

Fimat's new Toronto Capital Markets Group (TCMG) will focus on government bonds, swaps, forward rate agreements (FRAs) repos and futures and options.  The group will engage in OTC derivatives and repo name give-up business and will also be able to act as principal for cash trades to serve the Canadian dealer community.

"Our inter-dealer brokerage operation will further broaden the suite of products and services that we are able to offer market participants," said Jean-Pierre Gallardo, CEO of Fimat Canada, Inc. "Fimat Canada continues the expansion of our business lines into new asset classes and we anticipate and respond to the needs of our clients - in this case, the Canadian dealer community."

Fimat's TCMG is headed by Tim Anastakis, who has over 17 years of trading and brokerage experience in Canadian fixed income and derivatives markets. He is joined by Jerry Summer, who has eight years of government bond broking, fixed income and futures trading experienced; David Whealey who has over 20 years of trading and brokerage experience; Stacy Hart who has over 20 years of knowledge in the repo market; and Michael Donne who brings over 10 years of government bond brokering experience.

Background notes: The Fimat Group is part of Société Générale Global Securities Services for Investors (SG GSSI), which offers a full range of securities services ranging from execution, clearing, delivery and settlement to custody, trustee, fund and portfolio administration as well as employee share plan management.