LONDON, Oct. 10, 2017 /PRNewswire/ -- INTL FCStone Inc.
(NASDAQ:INTL) today announced that its London-based subsidiary, INTL FCStone Ltd's
Precious Metals Division, is now a Direct Participant in the London
Bullion Market Association (LBMA) Silver Auction, after having
become a Direct Participant in
the LBMA Gold Auction in April 2017.
ICE Benchmark Administration (IBA) has taken over the
administration of the Daily LBMA Silver Price benchmark auction.
This auction, the successor to the former London Silver Fix
auction, takes the form of trading unallocated silver positions on
an electronic platform. IBA introduced central clearing to the
daily London Silver Price benchmark 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 eight
other firms taking part in the auction process.
Barry Canham, Global Head of INTL
FCStone Ltd's Precious Metals Division, commented on today's news,
"Becoming a Direct Participant in the LBMA Silver Auction is an
important step in INTL FCStone's drive to enhance our client
offering. Being a member of both the IBA Gold and Silver
Auctions furthers our growth and demonstrates our commitment to our
customer base, as well as cements our leadership position within
the global bullion market."
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 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.
Media Contact
Jay A.
Morakis
M Group Strategic Communications (for INTL FCStone
Ltd)
+1 212 266 0191
jmorakis@mgroupsc.com
INTL-G
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SOURCE INTL FCStone Inc.