CHICAGO, June 28, 2010 (GLOBE NEWSWIRE) -- FCStone, LLC, a part of International Assets Holding Corporation (INTL) (Nasdaq:IAAC), today announced that it has established a 24-hour institutional order execution desk that will serve customers in all time zones across the globe.
The new trading desk, which will be located in Chicago, has been designed to serve institutional customers, including CTAs (Commodity Trading Advisors), and clearing and hedging customers of FCStone. The new desk also will serve INTL's and FCStone's internal network of brokers and traders.
The Order Execution Desk has been designed specifically for the needs of customers with complex or contingent orders, and will be managed by a newly established institutional execution team.
The team will be led by Bob Stephens, who has more than 25 years of experience in handling complex and contingent orders. He will work closely with Jon English, who has 24 years of industry experience, with three other newly recruited institutional traders, and with FCStone's existing team of institutional traders. The new desk will incorporate FCStone's existing 24-hour trading desk to provide a single center for institutional order execution.
"As our business grows, we have found that our customers increasingly require more-extensive and more-sophisticated execution capabilities and a dedicated trading team," commented Xuong Nguyen, Executive Vice President and COO of Clearing Operations for FCStone, LLC. "As our business becomes more globally focused, it's more important than ever to offer our customers service that spans all commodity classes, order types and time zones."
Stephens said, "I'm excited to have this opportunity to work with Xuong, Jon, and the other members of the team as we build a world-class trading facility. INTL and FCStone's capabilities are expanding tremendously, and I'm very gratified to contribute to this growth."
About International Assets Holding Corporation
International Assets Holding Corporation (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world. Further information on INTL is available at www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including statements regarding the combined company. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to International Assets Holding Corporation, are intended to identify forward-looking statements.
These forward-looking statements are based largely on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the combined company. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the filings made by International Assets with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press release. International Assets undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.