NEW YORK, Aug. 14, 2014 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL), a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets, today announced the consolidation of its two UK subsidiaries, INTL FCStone Ltd and INTL Global Currencies Ltd.
INTL FCStone Ltd is a Category One ring dealing member of the London Metal Exchange, a full clearing member of ICE Clear Europe, CMECE and LCH EnClear, and offers clearing services on a host of global exchanges through group affiliates.
Following this consolidation, INTL FCStone Ltd will more efficiently meet the needs of its customer base and make it easier for customers to access a wide array of financial services. The incorporated Global Payments division of INTL FCStone Ltd is the leading institutional cross border global payments business, processing 240,000 payments annually, with volumes of US$17 billion in 145 currencies. INTL FCStone Ltd will continue to serve humanitarian branches of supranational organizations, governmental aid agencies and household names within the NGO and charity sector, as well as international corporations and an increasingly large section of the international banking community. Many of the world's largest banking institutions have recognized the advantages of making their payments through a specialist service provider and have chosen the services of INTL FCStone for local currency delivery to the significant benefit of their clients. INTL FCStone Ltd will continue to provide the knowledge and infrastructure upon which such banks rely to deliver payments for their clients to almost every conceivable country in local currency.
Philip Smith, CEO of INTL FCStone Ltd, said, "We are very pleased that through this consolidation we can better serve our customers in providing simpler access to the full breadth of products we can offer."
About INTL FCStone Inc.
INTL FCStone Inc., including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets. Our revenues are derived primarily from financial products and advisory services that fulfill our clients' real needs and provide bottom-line benefits to their businesses. We create added value for our clients by providing access to global financial markets using our industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. Our client-first approach engenders trust, and has enabled us to establish leadership positions in a number of complex fields in financial markets around the world.
Further information on INTL FCStone is available at www.intlfcstone.com.