INTL FCStone Subsidiary Joins SGX as Trading & Clearing Member

The Singapore Exchange (SGX) announced this Friday that INTL FCStone Pte. Ltd., a subsidiary of INTL FCStone Inc., has joined as a Trading and Clearing Member of its derivatives market.

By welcoming the subsidiary, SGX has been able to expand its global distribution network, particularly across North America. INTL FCStone Inc. is a Fortune 500 company and diversified brokerage and financial services firm.

The brokerage is headquartered in New York and offers to trade in multiple assets. The firm has a solid presence in foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term), with its prime brokerage. As Finance Magnates reported, Singapore is actively trying to improve and expand the FX industry in the city-state.

Commenting on the announcement, Chew Sutat, Head of Global Sales and Origination at SGX, said: “We are delighted to announce the addition of INTL FCStone as a derivatives trading and clearing member, significantly expanding our global distribution network, particularly across North America.

“INTL FCStone is an important player with a wide network across asset classes, services and industries – from financials to commodities and currencies. We are also proud to support them as they use Singapore as a base to expand across Asia and look forward to working with them to grow our mutual franchise globally.”

INTL FCStone is ready for Singapore expansion

With the addition of the brokerage's subsidiary, the Singaporean exchange now has 62 Trading Members and 25 Clearing Members on its derivatives market.

“We are very excited to join the SGX family as a direct Derivatives Clearing and Trading member,” added Greg Kallinikos, Chief Executive of INTL FCStone Pte. Ltd. and Deputy CEO, Asia for INTL FCStone group.

“Following the recent upgrade of our Capital Markets Services regulatory licence in Singapore, we are now ready to offer our growing customer base access to one of the most fast moving, innovative exchanges in ngapngsia on the important milestone of its 20th anniversary. I would like to thank SGX for all its support and we look forward to working with their team in promoting INTL FCStone’s significantly enhanced Futures & Options Clearing and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term capabilities in the region.”