StoneX Financial Achieves GCM Status with ECC
27 11월 2024 - 9:33PM
StoneX Group Inc. (NASDAQ: SNEX); today announced that its wholly
owned subsidiary, StoneX Financial Limited (“StoneX Financial”),
has been awarded General Clearing Member (GCM) status by European
Commodity Clearing AG (“ECC”). This achievement underscores StoneX
Financial’s commitment to expanding its capabilities and providing
enhanced services to its energy and commodities sector clients.
ECC is the leading clearinghouse specializing in energy and
commodity products in Europe, providing clearing and settlement
services for exchanges and over-the-counter markets, ensuring
financial stability and mitigating counterparty risk in the trading
of energy and commodities.
A key benefit for StoneX Financial is the ability to deliver an
expanded range of services to a broader client base, including
Non-Clearing Members (NCMs). This enhanced product suite includes
power and gas futures and spot contracts, EEX carbon auctions, spot
and futures products, and broader market coverage across the wider
EEX offering. Additionally, it strengthens customer service
capabilities for clients navigating power, gas, and carbon
markets.
Ramon Martul, Chief Executive at StoneX Europe, commented, “We
are delighted StoneX Financial has been awarded GCM status by ECC.
Expanding our capabilities provides our clients greater market
access, robust solutions, and the tools they need to navigate an
evolving energy landscape.”
Brett Phillpott, Head of Exchange Traded Futures and Options at
StoneX Financial agreed, adding, “Achieving GCM status with ECC is
a proud moment for our team. It unlocks our ability to deliver
seamless market access and more robust risk management to our
clients.”
Dr. Tobias Paulun, CEO of ECC, remarked, “We are delighted that
StoneX is extending its Clearing Membership at ECC. As a General
Clearing Member, StoneX is now authorized to clear transactions on
behalf of any Non-Clearing Member at ECC, increasing choice for our
customers.”
This achievement highlights a year of strategic expansion for
the StoneX group. Key milestones include wholly owned subsidiaries
attaining membership in the India International Bullion Exchange
(IIBX) in October 2024, Approved Participant status on the Montreal
Exchange (TMX) in Canada in August, joining the Australian
Securities Exchange (ASX) in April, and becoming the first approved
clearing and trading member of the Abaxx Exchange and Clearing
House in Singapore in January 2024.
About StoneX Group Inc.:
StoneX Group Inc., through its subsidiaries, operates a global
financial services network that connects companies, organizations,
traders, and investors to the global market ecosystem through a
unique blend of digital platforms, end-to-end clearing and
execution services, high-touch service, and deep expertise. The
group strives to be the one trusted partner to its clients,
providing its network, products, and services to enable them to
pursue trading opportunities, manage market risks, make
investments, and improve business performance. A Fortune 100
company headquartered in New York City and listed on the Nasdaq
Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its
4,300+ employees serve more than 54,000 commercial, institutional,
and global payments clients, as well as more than 400,000 retail
accounts, from more than 80 offices spread across six
continents.
Louis Hoganlouis.hogan@cognitomedia.com
SNEX-G
StoneX (NASDAQ:SNEX)
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