Company's LME operations in Germany boosted by the acquisition of longtime strategic partner
LONDON and HAMBURG, Germany, Jan. 6, 2020 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ: INTL) (the "Company") today announced that it has acquired IFCM Commodities, GmbH out of Hamburg, Germany, which closed on January 2.
IFCM Commodities specializes in providing commodity price risk management solutions for base metals serving clients across Germany and continental Europe. They have been working closely with INTL FCStone's Metals Division since 2011, acting as their Tied Agent serving clients in Germany and continental Europe. This purchase is part of INTL FCStone's overall strategic plan to expand the company's footprint in Germany and continental Europe in order to handle European clients and regional metals business, post-Brexit.
Barry Canham, Global Head of Metals at INTL FCStone, commented on today's news "After nearly a decade of working together with INTL FCStone's Metals Team as a strategic partner handling their German client base and trade flows, we look forward to making our partnership with IFCM Commodities official. This is a critical step in our overall strategy to prepare our business lines for any potential disruption due to upcoming regulatory changes that will impact Europe."
Ramon Martul-Franco, CEO of IFCM Commodities GmbH, concluded, "It's exciting to officially formalize our strategic partnership with INTL FCStone combining our teams and complementary capabilities under one roof. We will use our local expertise along with the resources and credibility of INTL FCStone in order to establish a strong foothold to continue providing our clients in the region with excellent service."
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."