NEW YORK, July 11, 2019 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ: INTL) today announced that it has executed a sale and purchase agreement to acquire outsourced trading firm Fillmore Advisors. This news follows-on from the announcement that INTL launched a Prime Brokerage division in April of this year – with Fillmore Advisors now becoming an extension of that offering. This transaction, which is subject to regulatory approval, is effective on closing.
Fillmore Advisors is an independent firm and a leading provider of outsourced trading solutions and operational consulting to institutional asset managers. The firm, headquartered in Park City, Utah, is composed of traders with deep global expertise encompassing both buy-side and sell-side experience. Institutional clients will benefit from Fillmore Advisors' comprehensive product coverage offering for equities, equity-linked, FX, credit, rates, and commodities.
Michael DeJarnette, Managing Director and Co-Head, Prime Brokerage, commented on today's news "We're thrilled to add the Fillmore Advisors team to our prime brokerage division. Outsourced trading is a rapidly growing segment of prime brokerage services, and the acquisition represents a tremendous opportunity to add a fast-growing leader in outsourced trading solutions as we continue to grow our division. This acquisition is an example of our strong commitment to continued innovation as we look to offer specialized services for hedge funds both domestically and abroad."
INTL FCStone's prime brokerage division offers multi-asset prime brokerage, execution, outsourced trading, custody, self-clearing, and introduced clearing services for hedge funds, mutual funds, and family offices. The division provides a flexible platform to more effectively execute trades, custody, and clearing for U.S. and global equities, options, futures, foreign exchange (FX), and fixed income through INTL FCStone.
Andrew Caplan, Partner and CEO, Fillmore Advisors, concluded, "The Fillmore team is excited to join INTL FCStone and extend their global reach and best-in-class Prime Services platform to our client base. We will continue to partner with our existing clients and look forward to working with INTL's management team to assist in the division's continued growth and success in outsourced trading."
About INTL FCStone Inc.
INTL FCStone Inc., through its subsidiaries, is a leading provider of financial-services execution, risk management, market intelligence, and post-trade services across asset classes and markets around the world.
A Fortune 500 company with a nearly 100-year track record, the company focuses on providing products and services within the commodities, securities, foreign exchange and global payments sectors. INTL customers include the producers, processors and end users of virtually every major traded commodity; commercial counter parties; and governmental, nongovernmental and charitable organizations. The company also serves institutional investors, brokers, professional traders, CTA/CPOs, proprietary trading groups, commercial banks and major investment banks. Headquartered in New York City, the company is listed on NASDAQ under the ticker symbol "INTL."
Further information on INTL FCStone is available at www.intlfcstone.com.
Jay A. Morakis
M Group Strategic Communications (for INTL FCStone)
+1 646 859 5951
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SOURCE INTL FCStone Inc.