Tag Archives: INTL FC Stone

NEW YORK, June 24, 2020 /PRNewswire/ — INTL FCStone Inc. (NASDAQ: INTL) (the “Company”), a leading provider of execution, post-trade settlement, clearing and custody services across asset classes and markets worldwide, today announced that it is rebranding the firm as StoneX Group Inc. (“StoneX”). The StoneX Group name was approved by an overwhelming majority at this morning’s shareholder meeting and effective July 6, 2020 the Company will be traded under the symbol SNEX.

The StoneX Group name and its trade name “StoneX” carries forward the foundation established by Saul Stone in 1924 to today’s modern financial services firm. Today, the StoneX Group provides an institutional-grade financial services ecosystem connecting its clients to 36 derivatives exchanges, 175 foreign exchange markets, nearly every global securities marketplace, and a number of bi-lateral liquidity venues via its network of highly integrated digital platforms and experienced professionals. Our platform delivers support throughout the entire lifecycle of a transaction, from consulting and boots-on-the-ground intelligence, efficient execution, to post-trade clearing, custody and settlement.

Sean O’Connor, CEO, commented on today’s news, “Our firm has experienced transformational growth in recent years – in terms of the breadth and depth of our offering, our technology platforms and our global client base. This re-brand will help us better define and communicate our strategic focus on driving innovation and digitalization in the global markets going forward.”

In 2003, the Company set out to become a leading provider of financial services with the mission to meet the needs of underserved clients in specialized markets. As larger investment banks derisked after the financial crisis by withdrawing from markets, raising their minimums, and narrowing their offerings, the Company was able to occupy the gaps in the marketplace and seize opportunities left behind by these larger firms. Additionally and concurrently, as regulations and capital pressures drove mergers amongst smaller players in the industry, INTL FCStone Inc. became an opportunistic consolidator executing strategic acquisitions across business lines. These acquisitions all served as part of the Company’s transition to a global financial services firm that provides a unified digital platform that offers efficient access and connectivity to all major financial markets around the world. Simultaneously, INTL FCStone Inc. worked with larger institutions to meet their growing need for an institutional-grade partner to help them execute their market strategies and serve their clients.

“Our transition to the StoneX brand signals an exciting new phase for our company and our clients. We owe all of our success to our clients, and we will continue to put them at the center of everything we do as we pursue our goal of becoming recognized as a best in class financial services franchise,” added O’Connor.

Federal reserve keeps the pedal to the medal and keeps the money flowing which makes the markets happy.   Expecting the USDA to cut some global crops tomorrow while increasing others.  Feel weather wise is dryer in the Midwest, but Kansas & Nebraska as the dry spots.  Crop ratings are still high.  South America is dealing with dryness in Argentina.  Some planting of winter wheat is underway while harvest continues.  Getting slaughter close to year ago levels.  Refilling the pipeline.  Product prices, how long till the consumer sees the price difference?    A lot of product dump in the U.S. as we wait for restaurants to reopen.

 

Markets are trying to push positive.  Data is starting to show the economy is bouncing back.  More gas purchases.  A rebound started in the month of May.  Dollar is going down, selling treasuring.  All supporting the commodities.  NASDAQ is within 1 ½ % of high.  Dow Jones up roughly 40% of where it was in March.   Exception to all of this is corn as it seems to get shorted.  More buying by China of beans.  Weather pattern & what we are seeing moving forward.    Livestock:  Product prices are in a free fall.  Price fixing in the poultry industry-how did that effect the livestock markets today?

Getting a lot of questions about Hong Kong and the assessment & what will happen from that assessment.  Will it affect Phase One?  Brazil corn on what is being heard.  Acre numbers & prevent plant…recent crop progress numbers, no big surprise.  Are there some weather worries?  Black Sea update with rains & damage.  Livestock-where are we at on processing capacity?  June cattle moves about the 100-day moving average for the first time in 4 months.