Mercia Asset Regulatory News (MERC)

12 Feb 2007 07:01

Merchant Securities PLC12 February 2007 News Release12 February 2007 Merchant Securities receives approval to trade CFDs Merchant Securities Group Limited ("MSGL"), the Institutional and private clientStockbroking Company specialising in corporate finance, private clientinvestment management services and institutional sales trading, has receivedregulatory approval from the Financial Services Authority (FSA) to addinvestment types Contract for Differences and Spread Bets to its existingregulated activities. MSGL is the regulated subsidiary of Merchant SecuritiesPlc MSGL currently provides a range of financial services to private clients,institutions and small businesses including asset and advisory management toover 850 high net worth private clients, sales trading to institutionalinvestors, and private equity funding and corporate advice to small UKcompanies. The CFDs and Spread Bets will be traded under the leadership of Patrick Claridgewho joined Merchant Securities in May 2006 as Director - Institutional Business. Patrick Claridge was formerly CEO, E\* TRADE Securities in London havingestablished the London office of TIR Securities (UK) Limited in 1990 before E\* TRADE Securities acquired TIR in 1999. Patrick Claridge, Director - Institutional Business, Merchant Securities says: "Receiving FSA approval to trade CFDs enables Merchant Securities to extend theproduct offering to our existing institutional and retail clients. With anexperienced management team it is our objective to grow the business and developa successful trading operation." ENDS For further information please contact: Patrick Claridge Director Merchant Securities Holdings 020 7375 9022 Roland Cross Director Broadgate 020 7726 6111 This information is provided by RNS The company news service from the London Stock Exchange