NEW YORK, Feb. 13, 2018 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ: INTL) today announced that its wholly owned subsidiary, INTL FCStone Financial Inc. ("the Company"), has entered into an agreement with offshore mutual fund distribution platform Allfunds Bank. The relationship further enhances the offerings of the Company's Correspondent Clearing Division, which is now the only U.S.-based clearing firm with access to the Allfunds fund distribution platform.
Allfunds Bank, the largest Fund Distribution Platform in Europe, offers access to more than 57,000 funds from over 1,200 fund managers. INTL FCStone Financial will now have direct access to the award-winning Allfunds fund distribution platform. The Company finalized its agreement with Allfunds in December 2017 and completed the successful implementation of the Allfunds platform in late January. Through this agreement, the Company further solidifies its commitment to the offshore wealth management market.
Roger Shaffer, Managing Director, Correspondent Clearing at INTL FCStone Financial Inc., commented on today's news, "We are excited about our relationship with Allfunds and are proud to be the only U.S.-based clearing firm with access to their platform. We continue to add products, services, and capabilities to our offering in an effort to provide our correspondents with the best available brokerage and wealth management tools. The relationship with Allfunds allows our correspondents to provide their end-customers with access to over 57,000 offshore funds from a single platform. Our relationship with Allfunds underscores our commitment to servicing the offshore wealth management market."
The Correspondent Clearing Division of INTL FCStone Financial empowers introducing broker-dealers, RIAs, and foreign financial institutions to more effectively serve the trading and investment needs of their customers by utilizing next generation technology, a personal approach to operational support, and a strong infrastructure. The Correspondent Clearing Division uniquely serves the middle-market by providing institutional and retail capabilities through a single, proprietary platform.
"We are very excited about our relationship with INTL FC Stone," said Laura Gonzalez, Allfunds Regional Manager Iberia & Americas. "We believe financial distributors will benefit from a streamlined access to international investment products, thanks to this unique joint-offering from Allfunds and INTL FCStone Financial."
About INTL FCStone Inc.
INTL FCStone Inc., through its subsidiaries, is a leading provider of execution, risk management and advisory services, market intelligence, and clearing services across asset classes and markets around the world.
Serving more than 20,000 customers in 130 countries on five continents, the company provides products and services across five market segments: commercial hedging, global payments, securities, physical commodities, and clearing and execution services. Our customers include the producers, processors and end users of virtually every major traded commodity, as well as asset managers, introducing broker-dealers, insurance companies, brokers, institutional and retail investors, commercial and investment banks, and governmental, non-governmental and charitable organizations. A Fortune 500 company headquartered in New York City, the company is listed on the 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 Financial)
+1 212 266 0191
Allfunds Bank Group offers integrated fund solutions (operational, analysis and information). Created in 2000, today Allfunds Bank has more than €360 billion in assets under administration and offers more than 57,000 funds from over 1,200 fund managers. Allfunds Bank has a local presence in Spain, Italy, UK, Chile, UAE, Switzerland, Colombia, Luxembourg and Singapore and has more than 596
institutional clients, including major commercial banks, private banks, insurance companies, fund managers, financial supermarkets, international brokers, and specialist firms from 42 different countries.
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SOURCE INTL FCStone Inc.