StoneX Group today (Tuesday) announced the acquisition
of The Benchmark Company, a New York-based investment banking
firm. With this move, StoneX Group aims to enhance its investment banking, equity
research, and capital markets capabilities.
Enhancing Equity and Debt Market Capabilities
Benchmark is an investment banking firm with over 35
years in the industry. It focuses on sales, trading, and research. Its integration into StoneX now aims to strengthen the latter’s presence in equity and
debt capital markets.
“The acquisition of Benchmark establishes a
franchise-level equity research and investment banking platform at StoneX,
significantly elevating our equities capabilities,” Jacob Rappaport, Global
Head of Equities at StoneX, commented.
“This strategic move strengthens our ability to
deliver deep market insights, superior execution, and comprehensive solutions
to institutional and commercial clients in global capital markets.”
Beyond equities, the acquisition strengthens StoneX’s
debt capital market services. StoneX plans to leverage its extensive global
distribution network to maximize Benchmark’s capabilities, enhancing service
offerings for institutional and commercial clients worldwide.
The acquisition remains subject to regulatory approval
and customary closing conditions. Once finalized, StoneX expects the deal to
significantly expand its financial services portfolio by improving its offering
in the global capital markets.
Expanding Global Reach in Fixed Income
Last month, StoneX Group also finalized its acquisition of
Octo Finances, a Paris-based fixed-income brokerage, to expand its
services in Europe. The acquisition expanded StoneX’s offerings in bond and
convertible sales, debt capital markets, and credit research.
“We are thrilled to officially welcome Octo Finances
to StoneX Group and believe the company will provide us with significant new
capabilities. Our joint planning is well underway, and we are excited by the
opportunities for growth for the combined business in Europe.” Anthony Di
Ciollo, Global Head of Fixed Income at StoneX, mentioned.
Octo Finances targets bond trading and credit research.
According to the announcement, its addition boosts StoneX’s
capability to serve institutional clients with fixed-income solutions.
Meanwhile, StoneX reported strong growth in its FX/CFD trading business for the fourth quarter, with revenues increasing 7% to $84.7 million compared to $79.2 million in the same period of the previous year. In the fiscal year 2024 (FY24) ending September 30, 2024, revenues in the FX and CFD segments surpassed $316 million, which represents a 21% YoY jump from $262 million.
StoneX Group today (Tuesday) announced the acquisition
of The Benchmark Company, a New York-based investment banking
firm. With this move, StoneX Group aims to enhance its investment banking, equity
research, and capital markets capabilities.
Enhancing Equity and Debt Market Capabilities
Benchmark is an investment banking firm with over 35
years in the industry. It focuses on sales, trading, and research. Its integration into StoneX now aims to strengthen the latter’s presence in equity and
debt capital markets.
“The acquisition of Benchmark establishes a
franchise-level equity research and investment banking platform at StoneX,
significantly elevating our equities capabilities,” Jacob Rappaport, Global
Head of Equities at StoneX, commented.
“This strategic move strengthens our ability to
deliver deep market insights, superior execution, and comprehensive solutions
to institutional and commercial clients in global capital markets.”
Beyond equities, the acquisition strengthens StoneX’s
debt capital market services. StoneX plans to leverage its extensive global
distribution network to maximize Benchmark’s capabilities, enhancing service
offerings for institutional and commercial clients worldwide.
The acquisition remains subject to regulatory approval
and customary closing conditions. Once finalized, StoneX expects the deal to
significantly expand its financial services portfolio by improving its offering
in the global capital markets.
Expanding Global Reach in Fixed Income
Last month, StoneX Group also finalized its acquisition of
Octo Finances, a Paris-based fixed-income brokerage, to expand its
services in Europe. The acquisition expanded StoneX’s offerings in bond and
convertible sales, debt capital markets, and credit research.
“We are thrilled to officially welcome Octo Finances
to StoneX Group and believe the company will provide us with significant new
capabilities. Our joint planning is well underway, and we are excited by the
opportunities for growth for the combined business in Europe.” Anthony Di
Ciollo, Global Head of Fixed Income at StoneX, mentioned.
Octo Finances targets bond trading and credit research.
According to the announcement, its addition boosts StoneX’s
capability to serve institutional clients with fixed-income solutions.
Meanwhile, StoneX reported strong growth in its FX/CFD trading business for the fourth quarter, with revenues increasing 7% to $84.7 million compared to $79.2 million in the same period of the previous year. In the fiscal year 2024 (FY24) ending September 30, 2024, revenues in the FX and CFD segments surpassed $316 million, which represents a 21% YoY jump from $262 million.
This post is originally published on FINANCEMAGNATES.
