StoneX

	Members Registration Investors Careers

Become a sponsor »

StoneX Group Inc.
Founded	1924
Headquarters	New York, New York, United States
Key People	Sean M. O’Connor (Chief Executive Officer); John Moore (Chair of the Board); Xavier L. Simon (Chief Financial Officer)
Employees	Approximately 4,000
Products	Commodities and securities brokerage; futures and options execution and clearing; global payments; foreign exchange; physical commodities; swaps and OTC derivatives; wealth management; correspondent clearing
Twitter	@StoneX_Official
LinkedIn	Profile
Website	https://www.stonex.com
Releases	Company News

StoneX Group Inc. is a global financial services firm that provides access to futures, options, securities, physical commodities, foreign exchange, over-the-counter swaps, and cross-border payments for commercial, institutional and retail clients in developed and emerging markets. Following its 2025 acquisition of Chicago-based futures broker R.J. O’Brien & Associates, the oldest independent futures brokerage in the United States, StoneX became the largest non-bank futures commission merchant in the U.S. measured by customer funds, reflecting its expanded role in derivatives execution, clearing and risk management for commercial hedgers, asset managers, banks, proprietary trading firms and other institutional investors.

StoneX traces its origins to a Chicago egg and agricultural merchant founded in 1924 and grew over the ensuing century through organic expansion and multiple acquisitions into a diversified provider of commodities brokerage, securities dealing, global payments, and derivatives services across six continents. The combination with R.J. O’Brien—announced in April 2025 and completed in July 2025—added more than 75,000 client accounts and one of the largest introducing broker networks in the industry, cementing StoneX’s position as the largest U.S. non-bank futures commission merchant and reinforcing its presence in price discovery, liquidity provision and risk management across listed and over-the-counter markets.

History

StoneX’s roots lie in the early twentieth-century growth of organized agricultural markets in Chicago, where immigrant trader Saul Stone built a door-to-door egg and farm products business that evolved into Saul Stone & Company, an intermediary between Midwestern producers and urban buyers. Operating in an era when the Chicago Mercantile Exchange (CME) and other exchanges were expanding standardized contracts for agricultural commodities, Stone began to use hedging with futures contracts to manage the price risks of buying and selling eggs and other farm goods, establishing a pattern of integrating physical merchandising with derivatives risk management that would characterize the firm’s later development.

By the late 1930s Saul Stone & Company had become one of the early clearing members of the CME Group’s predecessor institution, embedding the firm in the infrastructure of U.S. agricultural derivatives markets and enabling it to intermediate futures and options for commercial hedgers. In subsequent decades, as financial futures developed on the International Monetary Market segment of the exchange in the 1970s, the company participated in the shift from purely agricultural contracts toward financial instruments, reflecting broader changes in global finance and the growing use of derivatives for interest rate and currency risk management.

The modern StoneX organization emerged from a series of mergers and acquisitions among commodity merchants, brokers and financial services firms responding to industry consolidation and the globalization of derivatives and cash markets. One important ancestor was International Assets Holding Corporation (IAHC), founded by Diego Veitia, who helped establish the Costa Rica Stock Exchange and built IAHC into a cross-border securities and foreign exchange business serving Latin American and other international clients. FCStone Group, which grew out of agricultural commodity risk management and clearing operations, represented the continuation of the Saul Stone agricultural heritage into a corporate structure focused on commercial hedgers in grain, livestock and energy markets.

In 2009, IAHC and FCStone Group combined to form INTL FCStone Inc.,, integrating international securities and foreign exchange businesses with agricultural and energy commodities brokerage and risk management services. The combination reflected the post-crisis environment after 2008, in which regulators and market participants placed greater emphasis on centralized clearing, capital efficiency and the separation of client assets, and in which intermediaries sought to offer cross-asset, cross-border services to commercial and financial clients.

INTL FCStone pursued a series of acquisitions in the 2010s to build out clearing, wealth management and correspondent services capabilities. Among these was the acquisition of certain assets of Sterne Agee, a U.S. broker-dealer and clearing firm, which expanded INTL FCStone’s presence in correspondent clearing and laid the foundation for what became its wealth management business. The firm also broadened its activities in precious metals, energy, soft commodities and securities market-making, aligning with a period of heightened volatility and demand for hedging tools among corporate treasurers, commodity producers and institutional investors following the global financial crisis and subsequent commodity price cycles.

In 2012, INTL FCStone expanded its information services by launching Commodity Network, an online news and analysis subscription service that distributed proprietary content across metals, agriculture, energy and soft commodities markets. During the same period, the firm continued to broaden its client base and execution capabilities in listed and over-the-counter markets through acquisitions and technology investments that supported electronic access and analytics for commercial and institutional users.

Leadership changes accompanied this expansion: former president Paul G. (Pete) Anderson retired in October 2012, after which the role remained open until chief operating officer Scott Branch was appointed president in May 2013; Branch subsequently retired from the firm in 2016. In parallel, INTL FCStone Markets LLC, the company’s over-the-counter–focused subsidiary, became the first non-bank entity to register with the U.S. Commodity Futures Trading Commission as a provisionally registered swap dealer in 2013, marking a milestone in the entry of non-bank intermediaries into the regulated swaps framework created by post-crisis reforms.

In February 2014, a subsidiary of INTL FCStone acquired Sinclair & Company, an Idaho-based introducing broker whose business focused on dairy, grains and livestock markets, strengthening the firm’s presence in agricultural hedging and execution services. That same month, Peter Nessler, who headed the FCStone brokerage unit, resigned, with chief executive Sean O’Connor later describing the departure as prompted by “stress from new regulations and difficult market conditions” following the implementation of post-crisis rules affecting futures commission merchants and commodity intermediaries.

INTL FCStone continued to expand in fixed income and wealth management through acquisitions in the mid-2010s. In 2015, it completed the purchase of G.X. Clarke & Co., an institutional dealer in U.S. government, federal agency and mortgage-backed securities, adding a dedicated fixed income platform and expanding relationships with institutional fixed income clients. In 2016, the firm acquired the correspondent securities clearing and independent wealth management businesses of Sterne Agee LLC; the clearing business was integrated into what became StoneX Financial Inc., while the wealth unit operated under the SA Stone Wealth Management name from 2017, extending the company’s reach into independent advisors and retail investors.

INTL FCStone also pursued international expansion in Asia. In March 2019, the company agreed to acquire the futures and options brokerage and clearing business of UOB Bullion and Futures Ltd., a Singapore-based subsidiary of United Overseas Bank Ltd., in a transaction aimed at strengthening its regional futures and options franchise; the deal closed in October 2019 after regulatory approvals. In the same year, INTL FCStone Financial launched a prime brokerage division based in Atlanta, offering multi-asset prime brokerage, execution, outsourced trading, custody and self-clearing services to hedge funds, mutual funds and family offices, and subsequently acquired outsourced trading firm Fillmore Advisors to add multi-asset execution and consulting for institutional asset managers.

In July 2020, INTL FCStone rebranded as StoneX Group Inc., adopting a name intended to unify its various businesses under a single corporate identity and emphasizing its role as a connector of clients to global markets in listed and over-the-counter instruments. The rebranding coincided with the expansion of digital platforms, electronic execution and post-trade services across its businesses, reflecting industry-wide trends in electronic trading, straight-through processing and client demand for integrated platforms spanning futures, cash securities, swaps and global payments.

In the 2020s, StoneX continued to develop its offerings in commodities, securities, foreign exchange and cryptocurrencies-related markets through its subsidiaries, including the acquisition and integration of platforms that facilitated bitcoin and digital asset trading and derivatives. The firm positioned itself as a counterparty and service provider to a range of participants including corporates managing commodity and currency exposure, asset managers and hedge funds seeking access to specialized markets, and fintech platforms looking for clearing, custody and liquidity support, within a regulatory environment that increased expectations around compliance and anti-money laundering controls.

On April 14, 2025, StoneX and R.J. O'Brien & Associates announced that StoneX would acquire R.J. O’Brien in a transaction valued at approximately $900 million, combining two long-standing independent futures commission merchants. The transaction, completed in the third quarter of 2025, added more than 75,000 of RJO’s client accounts and significantly increased StoneX’s customer segregated funds, helping to make StoneX the largest U.S. non-bank futures commission merchant by customer assets and boosting projected annual listed derivatives volume by nearly 190 million contracts.

Products & Services

StoneX’s activities span listed derivatives, securities, foreign exchange, global payments, physical commodities and wealth management, delivered through regulated subsidiaries in multiple jurisdictions. Across these businesses, the firm acts as a broker, market maker, clearing intermediary and facilitator of liquidity, connecting clients to exchanges, over-the-counter markets and cross-border payment systems, and providing associated risk management and execution services.

Listed derivatives

StoneX provides access to more than 30 derivatives markets worldwide, offering execution and clearing for futures and options on commodities, financial indices, currencies and fixed income instruments. Through memberships and relationships with major exchanges such as CME Group and other international markets, the firm offers clients the ability to trade exchange-listed contracts for hedging and price discovery, with straight-through processing to clearing and position management systems.

Commercial clients, including commodity processors, energy firms and producers, use StoneX’s listed derivatives services to hedge exposures to agriculture, energy and metals price fluctuations, often in combination with physical merchandising and structured transactions. Financial clients, such as asset managers, banks, proprietary trading firms and institutional investors, employ the firm’s execution and clearing capabilities to access global derivatives markets, manage portfolio risk, and implement trading strategies across asset classes.

Securities and wealth management

StoneX operates securities brokerage and market-making businesses that provide equities and fixed income trading, liquidity provision, and custody for institutional, corporate and wealth management clients. The firm’s securities activities include institutional sales and trading, correspondent clearing, securities lending, and structured products, with a focus on connecting clients to domestic and international cash and derivatives markets.

In wealth management, StoneX offers advisory and brokerage services to retail and high-net-worth clients through financial advisors and independent representatives, leveraging the clearing and custody infrastructure acquired through earlier transactions such as the Sterne Agee deal. The wealth business provides access to equity and fixed income markets, investment products and retirement planning solutions, integrated with the broader firm’s capabilities in futures, options and structured products for clients seeking diversified portfolios.

Foreign exchange and global payments

StoneX’s foreign exchange business offers spot, forward and derivatives trading in major and emerging market currencies, as well as cross-border payment services for corporates, financial institutions and non-governmental organizations. The firm provides access to over 180 currency markets and supports payments in more than 140 currencies, enabling clients to manage currency risk, fund operations and make remittances in markets where local banking systems may be less accessible to international participants.

Clients using StoneX for foreign exchange and payments include corporates managing import and export flows, development organizations funding projects in emerging markets, and financial institutions seeking specialized execution and settlement capabilities. Services include hedging solutions such as forwards and options, multi-currency accounts and integration with treasury systems, provided within a regulatory framework emphasizing compliance with sanctions, anti-money laundering rules and local currency controls.

Physical commodities and supply chain

Through its commodities division, StoneX engages in physical trading and merchandising of agricultural products, energy, and metals, often linked to derivatives hedging programs. The firm assists producers, processors, merchants and end-users with procurement, logistics, storage and price management, enabling them to manage supply chain risks and align physical and financial positions.

In precious metals, StoneX provides trading, financing, warehousing and delivery services in gold, silver and platinum group metals, alongside futures and OTC products. The firm also offers electronic platforms for metals trading and links between physical and derivatives positions, facilitating hedging and price risk management for refiners, fabricators, investors and industrial users.

OTC derivatives and structured products

StoneX’s over-the-counter derivatives business provides customized swaps, options and structured products across commodities, interest rates and foreign exchange, enabling clients to tailor hedging strategies to their particular exposures and balance sheet requirements. These products can include basis swaps, structured options and other instruments designed to manage specific price relationships, regional basis risks and timing mismatches that may not be addressed by standardized exchange contracts.

The firm also offers risk management advisory services, analyzing client exposures and designing strategies that combine futures, options, OTC products and physical positions to meet defined risk tolerance and accounting objectives. These services respond to regulatory and accounting changes that have increased focus on hedge effectiveness, collateral management and counterparty risk, particularly for corporates and financial institutions facing volatile commodity and currency markets.

Key People

StoneX Executive Team

• 

  Philip A. Smith,Chief Executive, StoneX Group

• 

  Charles Lyon, Group President

• 

  Sean O'Connor, Executive Vice-Chairman of the Board of Directors

• 

  William J. Dunaway, Chief Financial Officer

• 

  Mark Maurer, Chief Risk Officer

• 

  Stuart Davison, Chief Operating Officer

• 

  Abbey Perkins, Chief Information Officer

• 

  Diego A. Rotsztain, Chief Governance and Legal Officer

• 

  Greg Kallinikos, Chief Executive Officer of Asia Pacific

• 

  David Bolte, Secretary and Deputy General Counsel

• 

  Kevin Murphy, Group Treasurer

• 

  Aaron Schroeder, Chief Accounting Officer

StoneX Board of Directors

Sean O'Connor, Executive Vice-Chairman of the Board of Directors Annabelle Bexiga, Director Diane L. Cooper, Director John M. Fowler, Director Steve Kass, Director Eric Parthemore, Director John Radziwill, Chairman of the Board Dr. Dhamu Thamodaran, PhD, Director

Registration Information

• FC Stone, LLC - NFA ID 0300861