NEW YORK, March 29, 2017 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (NASDAQ:INTL) today announced that its Australian subsidiary, INTL FCStone Pty Ltd, is now an authorised broker of Australian beef and lamb bilateral swaps via their relationship with Mercari. Mercari is an Australian-based operator of licensed and regulated electronic markets for over the counter (OTC) products.
This new capability allows INTL FCStone to extend their OTC product offerings into the Australian Livestock market, allowing producers and consumers in the beef and lamb markets to employ a more efficient risk management strategy. The electronically traded swaps promote real-time price discovery in a fair, transparent and regulated marketplace.
Brett Cooper, INTL FCStone Pty Ltd’s Head of Agriculture Asia, commented, “We’re thrilled to be able to offer our customers and participants in the beef and lamb markets another option for managing their risk. OTC derivatives allow us to customize specific characteristics of the contract to fit the needs of the customer. It is an important tool in our risk management toolbox.”
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 the NASDAQ under the ticker symbol “INTL”.
Further information on INTL FCStone is available at www.intlfcstone.com.