NEW YORK and BANGALORE, India, June 24, 2019 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ: INTL) ("INTL" or "the Company") today announced that it will open a captive IT development company with offices in Bangalore, India. INTL FCStone Technology Services Private Limited will begin operational activities on July 1, 2019.
The new venture arises out of a previous relationship with DigitalDot Consultancy India Pvt. Ltd in which DigitalDot performed development services exclusively for INTL. After working together for close to two years and building a predominately Bangalore-based team of developers to a point of critical mass, INTL executed on its longer-term strategy to internalize its software development by offering to employ all of DigitalDot's developers. The newly organized INTL FCStone Technology Services Private Limited will serve all the Company's business lines as it continues to progress its already robust technology capabilities. The Bangalore office opens with 70 employees and expects to fill another 35 positions in the very near term.
Commenting on today's news, Xuong Nguyen, Chief Operating Officer for INTL FCStone Inc. said, "This new office will afford us the opportunity to leverage the technological expertise in Bangalore to enhance and complement our existing software capabilities. INTL remains committed to maintaining its high-touch approach to client service, but to also leading the industry with technology solutions that meet the demand of today's global financial markets. Our team in Bangalore has, and will, continue to play a large part in developing advanced trading, analytics and other software products for our various business lines."
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.