StoneX Picks Genesis for Digitisation of Middle Office Workflows

StoneX, previously known as INTL FCStone, announced today that it has selected Genesis, a financial markets software provider, to digitise middle-office workflows for its fixed income and Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term trading business. The financial services provider is planning to fully automate its middle office operations through its recent selection.

According to the official announcement, StoneX aims to scale its nascent fixed income business and wants to resolve the complex workflows securely through the use of Genesis Low-Code Application Platform (LCAP).

LCAP enables the rapid creation and deployment of applications to meet the traditional automation and simple Business Process Management (BPM). StoneX completed the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Gain Capital Holdings in 2020, and the firm currently has three major technology providers.

Commenting on the recent selection, Paul Wenman, Head of Business Development EMEA & Asia, StoneX, said: “Genesis LCAP has allowed us to move away from manual time-consuming processes to a fully digital experience, giving us greater control of our operations and the ability to better serve our clients on top of accessing new markets and asset classes. The middle office solution has been so well executed and at such speed that if we had a conversation in the morning, a developer was building out the functionality by the afternoon.”

Strong Finance Results

Finance Magnates earlier reported about strong FX revenues posted by StoneX after the acquisition of Gain Capital. The average daily volume across FX and CFDs jumped significantly during the last three months. The financial firm is planning to digitise its operations with innovative technologies.

“We are immensely proud of our collaboration with StoneX and delighted to deliver yet another innovative application from the Genesis Application Library that is built on the Genesis Low-Code Application Platform. Every firm is under pressure not only to automate their workflows but also to deploy new productivity tools and digital capabilities. This is exactly what our LCAP is designed to deliver, and we are delighted to be playing our part as StoneX continues to grow both its equities and fixed income businesses,” Stephen Murphy, CEO of Genesis mentioned in the official announcement.