INTL FCStone has disclosed that the broker-dealer division of its wholly owned subsidiary, INTL FCStone Financial, ranked as the number one market maker in 2016 for international securities traded over-the-counter. The company achieved a further number one ranking by dollar value for around 2,500 securities.
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YoY Increase in OTC Trades
INTL FCStone Financial is a full-service market maker that provides institutional clients with access to blue chip international securities and ADRs through best-in-class Execution services, proprietary technology, and solid expertise, leveraging its strong capital base to provide block-sized Liquidity both during and after local market hours.
In 2016, INTL FCStone Financial was responsible for OTC trades totalling approximately $26.6 billion, representing 18 percent of all OTC value reported. This represents an increase of 27 percent YoY compared with 2015, when the company also held the number 1 ranking.
The company saw ADR value traded increase by 29 percent as the total ADR market contracted 5 percent and provided liquidity to the market at an approximate 3:1 ratio during 2016.
Jacob Rappaport, Managing Director and Head of Equity Capital Markets at INTL FCStone Financial, commented: "We are very proud of our team for being the top-ranked OTC market maker for the second consecutive year. I believe this to be indicative of the quality of our service, expertise and integral liquidity that we provide to the market. We remain committed to our clients, and helping them grow via our best-in-class execution solutions."
Foreign Securities
INTL FCStone Financial also bolstered the market by adding 15 percent of new foreign securities and 62 percent of new ADRs to the OTC Marketplace. The company has been responsible for over 50 percent of new foreign securities and ADRs added to the OTC Marketplace since 2011.
Rappaport concluded: "We once again added a large number of foreign securities and ADRs to the OTC Marketplace in 2016 in response to our client's needs for more intraday liquidity in international equities. Additionally, bringing these securities to a regulated venue enhances competition, price clarity and compliance initiatives. We look forward to ongoing growth in 2017 and to furthering our mission to make international markets more accessible."
