INTL FCStone Inc.: INTL FCStone to Consolidate Two UK Subsidiaries
NEW YORK, March 25, 2014 (GLOBE NEWSWIRE) -- INTL FCStone Inc (Nasdaq:INTL)
announced today that it has received regulatory approval from the UK Financial
Conduct Authority to consolidate the businesses of its two UK subsidiaries,
INTL FCStone Ltd and INTL Global Currencies Ltd.
INTL FCStone Ltd [IFL] is a full scope investment firm, providing advisory,
execution and clearing services to commercial clients who wish to mitigate
their price exposure to FX, Metals, Energy and Soft commodities. IFL is a
category 1 ring dealing member of the London Metal Exchange, a full clearing
member of ICE Clear Europe, CMECE, and LCH EnClear, and offers clearing
services on a host of global exchanges through group affiliates.
INTL Global Currencies Ltd [IGC] is a leading institutional cross border
global payments business, processing 200,000 payments annually, with volumes
of US$16 billion in 145 currencies. IGC not only services many of the
humanitarian branches of supranational organizations, governmental aid
agencies and household names within the NGO and charity sector, but also
services international corporations and an increasingly large section of the
international banking community. Many of the world's largest banking
institutions have recognized the advantages of making their payments through a
specialist service provider and have chosen the services of IGC for exotic
currency delivery to the significant benefit of their clients. IGC provides
the knowledge and infrastructure framework upon which such banks rely to
deliver payments for their clients and prides itself on its ability to make
payments to almost every conceivable country, in local currency.
Philip Smith, Chief Executive Europe, Middle East and Africa, said, "Following
a record quarter, INTL FCStone's UK based businesses are growing at a very
encouraging rate. The next stage of consolidation during 2014 will be to
incorporate our global precious metals businesses currently operating through
our various international offices. Last year we transacted in more than 300
tons of physical precious metals and consider ourselves to be one of the
largest importers of precious metals into the Indian sub-continent."
About INTL FCStone Inc.
INTL FCStone Inc. (INTL) provides execution and advisory services in
commodities, currencies and international securities. INTL's businesses, which
include the commodities advisory and transaction execution firm FCStone Group,
serve more than 20,000 customers in more than 100 countries through a network
of offices in eleven countries around the world.
Further information on INTL is available at www.intlfcstone.com.
CONTACT: INTL FCStone Inc.
Director of Public Relations
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: INTL FCStone Inc. via Globenewswire
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