Newedge restructures to meet costs, vows job cuts

An environment of sustained low interest rates and falling commissions for derivatives broking has compelled Newedge into a restructuring that it sees as a necessary step towards consolidating its business lines. Its Asia-Pacific head, Laurent Cunin, says that the agency brokerage – a 50-50 joint-venture brokerage between Société Générale and Crédit Agricole CIB – is also grappling with a myriad of regulations impacting its business globally. These range from tougher capital req…