Platform closes in on 10 tons (or ~$400MM) in 3 months
LONDON and SINGAPORE, June 5, 2017 /PRNewswire/ -- INTL FCStone Ltd today announced that its Precious Metals Division's (the "Company") web-based physical gold trading platform, PMXecute+ has traded nearly 10 tons of gold, representing close to $400 million in value, since its launch in late February 2017.
Barry Canham, global head of the Precious Metals Division, commented on today's news, "We are proud of the significant trading volumes that we have achieved with PMXecute+ in the short time since its launch earlier this year. I look forward to providing additional updates to the market in terms of our volumes over the coming months."
The Company's focus since launch has been to ensure wider liquidity on the platform, progressively increasing the number of trading counterparties. With over 1500 locations and shipping routes available and a diversified gold inventory, the platform can be used as a strategic tool to reach a bigger market and identify new opportunities through just one relationship. Efforts will continue over the next few months to onboard more users and enrich the PMXecute+ value proposition.
The platform allows customers access to INTL's entire global inventory and network of trusted supply partners — helping customers find the best offers 24 hours a day, seven days a week. Customers who do not see offers meeting their specific requirements (regarding quantity, specification or location) can use the platform's Request for Quote function, which notifies all relevant suppliers around the world. Suppliers can anonymously create firm or indicative offers (premium, location, expiry date) on the platform for all customers to view and, if they like what they see, trade on, thus seamlessly securing gold at a premium and a location they want. The platform even allows for shipping to be added, if the customer requires.
About INTL FCStone Ltd
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone Inc. ("INTL"). IFL is registered in England and Wales (5616586). IFL is authorised & regulated by the Financial Conduct Authority [FRN 446717]. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore. 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. 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 Ltd)
+1 212 266 0191
SOURCE INTL FCStone Ltd