INTL FCStone Inc.

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INTL FCStone Inc.
INTL FCStone 2018.jpg
Founded 2009
Headquarters New York
Key People Sean O'Connor, CEO
Employees 1,600
Products Execution, clearing and advisory services in commodity futures and options, securities and currencies; physical trading in select commodities; asset and wealth management; international payments and treasury services; and market intelligence
Twitter @INTLFCStone
LinkedIn Profile
Website www.intlfcstone.com
Releases Company News

INTL FCStone Inc. (NASDAQ: INTL) is a financial services firm that provides clearing and execution, risk management and advisory services, and market intelligence to the global securities, commodities and foreign exchange markets. The company also offers trading in select physical commodities, as well as payments and treasury services in approximately 140 currencies.[1] Primary subsidiary companies include:

  • INTL FCStone Financial Inc., a registered futures commission merchant (FCM) consisting of FCM, broker-dealer, fixed income, and correspondent clearing divisions.
  • INTL FCStone Markets LLC, a provisionally registered swaps dealer providing over-the-counter (OTC) products and services.
  • INTL FCStone Ltd, the London-based flagship entity serving the company’s non-U.S. customers and home to the company’s Global Payments Division.


Markets Traded

  • Grains/Oilseeds
  • Dairy
  • Forest Products
  • Meats/Livestock
  • Softs
  • Energy
  • Renewable Fuels
  • Metals
  • Currencies
  • Financial Futures
  • Securities

Products and Services

  • Risk Management Advisory Services
  • Futures Brokerage and Clearing
  • OTC and Structured Products
  • Physical Trading in Select Commodities
  • LME Metals Trading
  • Global Payments and Treasury Services
  • Foreign Exchange Execution and Prime Brokerage
  • Equity Market-Making
  • Securities Custody and Clearing
  • Fixed Income
  • Wealth Management
  • Asset Management
  • Market Intelligence

History

While some constituent businesses within INTL date back to 1901, the company’s oldest namesake firm was founded in 1924 by Saul Stone, a Russian immigrant who fled to Chicago and became a door-to-door egg wholesaler. In 1938, his firm became a clearing member of the Chicago Mercantile Exchange and in 1946, was incorporated as Saul Stone & Co.[2] In June 2000, Saul Stone & Co. was acquired by Farmers Commodities Corp., which was founded in 1978 to provide grain hedging brokerage services. The combined company adopted the name FCStone, LLC, and grew through the subsequent acquisitions of dairy futures trading firm Downes-O’Neill (2007) and cotton traders Globecot (2008). [3]

In 2009, FCStone LLC merged with International Assets Holding Corporation. IAHC began as the International Assets Advisory Corporation in 1981, based in Winter Haven, Florida and was headed by Diego J. Veitia. The company went public on the NASDAQ in 1994, trading under the ticker symbol INTL. The current management team assumed control of IAHC in 2003 and shifted its strategic focus to wholesale execution. The following year, the company acquired Global Currencies, a global payments business.[4]

Following the merger, the company continued to grow through a series of acquisitions, most notably the Hanley Group companies, which enabled the company to expand its OTC trading business, and the futures division of Hencorp (in 2010), which added coffee, cocoa and sugar to the company’s commodity offering.[5]

In 2011, the company officially changed its name to INTL FCStone Inc. It continued to grow through acquisitions, adding LME metals to its offering and becoming a Category One ring-dealing member of the LME, as well as expanding its global footprint in coffee, cocoa and energy.[6]

In 2012, the company launched Commodity Network, an online news and analysis subscription service.[7]

Former president Paul G. (Pete) Anderson retired in October 2012, leaving the position vacant until COO Scott Branch was appointed president. [8] Branch later retired in 2016.

The company’s OTC-focused subsidiary, INTL FCStone Markets LLC, became the first non-bank company to register with the CFTC as a provisional swaps dealer in 2013.

In February 2014, the firm acquired Sinclair & Co., an Idaho-based introducing broker concentrating on dairy, grains and livestock markets.[9] Also in February 2014, Peter Nessler, who headed the company's FCStone subsidiary, resigned amid "stress from new regulations and difficult market conditions."[10]

In 2015, the company completed the acquisition of G.X. Clarke & Co., an institutional dealer in U.S. government securities, federal agency and mortgage-backed securities. The following year, it completed purchase of the correspondent securities clearing business and independent wealth management business of Sterne Agee, LLC. The clearing business was folded into the company’s INTL FCStone Financial Inc. subsidiary, while the wealth management business was renamed SA Stone Wealth Management in 2017.

Key People

In The News

  • On February 27, 2018, CTA Intelligence named INTL FCStone as "Best FCM" for U.S. Services for 2018.[11]
  • On May 1st, 2015 INTL FCstone Inc. settled with the CFTC for failing to have the proper policies for governing the transfer of positions between customers accounts.[12]

Registration Information

  • FC Stone, LLC - NFA ID 0300861

References

  1. About Us - Overview. INTL FCStone.
  2. Merc Broker, Israel Backer Saul Stone. Chicago Tribune.
  3. Annual Report 2018. INTL FCStone Inc.
  4. Annual Report 2018. INTL FCStone Inc.
  5. Annual Report 2018. INTL FCStone Inc.
  6. Annual Report 2018. INTL FCStone Inc.
  7. Annual Report 2018. INTL FCStone Inc.
  8. INTL FCStone Inc. Names Scott Branch as President. Press Release.
  9. INTL FCStone Inc. Subsidiary Acquires Sinclair & Company. Wall Street Journal.
  10. FCStone brokerage boss quits amid stress from regulations -CEO. Reuters.
  11. US Services Awards 2018. CTA Intelligence.
  12. INTL FCStone Unit to Pay $140,000 to Settle CFTC Charges. Wall Street Journal.