Societe Generale Tokyo First non-Japanese firm to Obtain FCM License in Japan, for the benefit of Fimat

Paris, October 16, 2003 - - The Fimat Group, one of the world's leading global brokerage organizations and part of Société Générale Group, announces the obtention of an Intermediary Futures Commission Merchant (FCM) license from Japan's Ministry of Economy, Trade and Industry, and the Ministry of Agriculture, Forestry and Fisheries of Japan. Societe Generale Securities is the first foreign entity to obtain such a license in Japan.

The license allows Fimat to act as an intermediary in the Japanese commodity futures markets on behalf of Japanese and international commercial and institutional interests. Fimat in Japan currently acts as a broker on a broad range of financial instruments for both domestic Japanese and international clients.

Fimat in Tokyo will execute and clear Japanese commodity futures through Himawari CX, Inc, a clearing member of the relevant Japanese commodity futures exchanges. Dealing will initially start on the Tokyo Commodity Exchange for Industry (TOCOM). In addition to TOCOM, the Fimat Division will deal on the Tokyo Grain Exchange (TGE), the Central Japan Commodity Exchange (C-COM), and the Osaka Mercantile Exchange (OME). The main contracts traded include energy, metals, grains, beans and tropicals.

Fimat's decision to operate on these exchanges followed the recent expansion of volumes on these exchanges, from both domestic and international players, as well as the increasing visibility of the Japanese commodity futures markets on the global stage. International clients will benefit from the expertise of Fimat in these markets combined with the strength of a leading non-Japanese bank as a counterparty. Access for clients to TOCOM in particular will be enhanced via the establishedconnectivity of GL Trade.

Laurent Cunin, Managing Director of the Fimat Division in Japan comments: "As one of the world's premier brokerage organizations, especially in the commodities markets, Fimat recognizing the rapid development of the Japanese commodity futures markets has identified the opportunity for its customers - both domestic Japanese and non-Japanese commercial and institutional clients to become the first international organization to be an officially licensed participant. We expect that in the coming years this market will continue to grow, especially in the areas of precious metals and energy. We aim to become the leading international broker in these markets and expand our role and presence here in Japan for years to come."

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