INTL FCStone Ltd Becomes Direct Participant to LBMA Gold Auction
April 18 2017 - 3:01AM
NEW YORK, April 18, 2017 (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 that
its London-based subsidiary, INTL FCStone Ltd's Precious Metals
division is now a Direct Participant to the London Bullion Market
Association (LBMA) Gold Auction, having been approved to
participate in the process earlier this month.
ICE Benchmark Administration (IBA) introduced
central clearing to the twice-daily London gold auction, removing
the need for firms to have significant bilateral credit lines in
place with each other to become a Direct Participant. INTL FCStone
Ltd. joins nine other firms taking part in the auction process.
"To be a Direct Participant of the LBMA Gold
Auction is a major step for INTL FCStone," said Barry Canham,
Global Head of Precious Metals. "We are continually driving our
business forward to improve our client offering and cementing our
prominent position in the global bullion market."
A range of criteria must be met for a company to
qualify as a Direct Participant in the Gold Auction. In addition to
being a member of the LBMA, a particular skill set and level of
experience must be met by individuals within the organization, and
the Direct Participant must also be able to settle Loco London Gold
and clear using the ICE Gold Daily Futures Contract.
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. Its revenues are derived primarily from financial
products and advisory services that fulfill clients' needs and
provide bottom-line benefits to their businesses. INTL creates
added value for clients by providing access to global financial
markets using industry and financial expertise, deep partner and
network relationships, insight and guidance, and integrity and
transparency. INTL's client-first approach engenders trust, and has
enabled INTL to establish leadership positions in a number of
complex fields in financial markets around the world. INTL
FCStone Ltd, a wholly owned subsidiary of INTL FCStone Inc., is
authorized & regulated by the UK Financial Conduct
Authority.
Further information on INTL FCStone is
available at www.intlfcstone.com.
CONTACT:
INTL FCStone Inc.
Kent Coughlin
Director of Public Relations
+615-234-2756
kent.coughlin@intlfcstone.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: INTL FCStone Inc. via Globenewswire
INTL FCStone (NASDAQ:INTL)
Historical Stock Chart
From Mar 2024 to Apr 2024
INTL FCStone (NASDAQ:INTL)
Historical Stock Chart
From Apr 2023 to Apr 2024