Fortis Clearing Sydney Pty Limited is a wholly-owned subsidiary of Fortis Bank SA/NV, a global banking group incorporated in Belgium and the Netherlands. Fortis Clearing Sydney generates the majority of its revenue from the provision of third party clearing services to the financial services industry. The company operates predominantly in Australia, and employs approximately 36 staff across its operations.
HISTORY / BACKGROUND
1990 - Fortis Bank SA/NV was formed following the merger of N.V. AMEV, a large Dutch insurer, VSB, a Dutch bank, and AG Group, a large Belgian insurer.
1998 - Fortis Clearing Sydney was incorporated in Australia.
2001 - Fortis Bank SA/NV divested its Australian non-life insurance company.
PRODUCTS
Fortis Clearing Sydney offers third party clearing services predominantly in relation to exchange traded equity products within Australia and limited Asian markets.
RES Price at posting:
$1.40 Sentiment: Buy Disclosure: Held
