StoneX Group Inc. has reported the execution and clearance of the initial trade on the inaugural trading day of Abaxx Commodity Futures Exchange and Clearinghouse.
StoneX Introduces LNG Futures
StoneX clients are now able to engage in physically deliverable futures contracts for LNG and Carbon, with Nickel Sulphate contracts soon to follow. This development is aimed at bolstering market price discovery and improving risk management tools for these essential commodities, thereby supporting the energy transition efforts.
Meanwhile, StoneX Financial Ltd, a subsidiary of StoneX Group Inc., has entered a strategic partnership with NatWest Group PLC to enhance NatWest's international payment capabilities, as reported by Finance Magnates. This collaboration aims to streamline cross-border FX services for NatWest's clients.
Under the agreement, StoneX Payments will leverage its expertise in third-party delivery and international FX payments to support NatWest. This integration will enable NatWest's corporate clients to execute fund transfers across a broader range of countries. The partnership will expand NatWest's local payment capabilities to encompass an additional 10 currencies, opening up new markets previously inaccessible.
StoneX's API-driven financial platform is bolstered by a network of over 350 correspondent banks. This infrastructure will enable NatWest to offer competitive FX rates and a seamless payment experience to its clientele. StoneX Payments' proprietary network will ensure transparency in payment processes, providing NatWest with detailed transaction information from initiation to delivery.
StoneX Plans $550 Million Bond
Earlier, StoneX Group announced its intention to issue a $550 million bond maturing in 2031, contingent upon market conditions. This move is aimed at meeting the company's financial requirements and enhancing its debt configuration.
The offering is targeted at qualified institutional buyers and certain entities outside the United States, with proceeds intended for redeeming StoneX's existing 8.625% Senior Secured Notes due in 2025. The bond issuance will enable full repayment of current debts, thereby optimizing StoneX's capital structure and reducing interest expenses.
Interest on the bond will be paid semi-annually, fulfilling the company's financial commitments. StoneX clarified that this offering does not constitute a securities sale offer and will proceed through a private offering memorandum.
