Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 348

INTL FCStone in Negotiations to Acquire TRX Futures Limited

Posted by fidest press agency su martedì, 20 dicembre 2011

English: Sign above the main entrance to the L...

New York, (Nasdaq:INTL) today announced that its United Kingdom subsidiary, INTL Holding (UK) Limited, has entered into a memorandum of understanding with Neumann Gruppe GmbH to acquire its subsidiary TRX Futures Limited (“TRX”), subject to contract and to the approval of the Financial Services Authority in the United Kingdom. INTL Holding (UK) Limited is also the UK holding company of INTL FCStone (Europe) Limited, a member of the London Metal Exchange and London Clearing House.TRX is a London-based niche clearing firm for commercial coffee and cocoa customers, as well as energy and financial products. It is a member of NYSE Liffe and ICE Futures UK. TRX’s clients and employees will benefit from INTL FCStone’s infrastructure, commodities expertise and comprehensive array of exchange traded and over-the-counter products. TRX’s competence and long-term relationships with commercial clients will complement INTL FCStone’s existing operations.Neumann Gruppe’s physical coffee trading and service business will continue to clear its futures contracts through TRX after completion of the transaction.Philip Smith, Chief Executive of INTL Holding (UK) Limited, said, “This is an exciting opportunity to expand our soft commodities capabilities globally. TRX are a highly regarded presence in this sector, and we look forward to building upon their success as part of our group.”David Neumann, Speaker of the Board of Management of Neumann Gruppe, said “We are convinced that this is an excellent way forward and will allow both companies to further develop their respective successful business models.”
INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone’s businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 commercial customers through a network of offices around the world. Further information on INTL FCStone Inc. is available at http://www.intlfcstone.com.

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