Securities and commodities broker INTL FCStone has joined the Singapore Exchange (SGX) as a trading and clearing member.
The addition of INTL FCStone Pte, a subsidiary of New York-based INTL FCStone Inc, to the SGX derivatives market expands its footprint in North America, and takes its total trading members to 62, and clearing members to 25, the exchange operator said in a statement.
“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,” Chew Sutat, head of global sales and origination at SGX, commented.
The US broker said it recently upgraded its Capital Markets Services License in Singapore, which was first granted in 2015 and allows the firm to develop its business across Asia, and expand its operations in Singapore.
“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 Asia on the important milestone of its 20th anniversary,” Greg Kallinikos, CEO of INTL FCStone Pte, and deputy chief exeutive in Asia for INTL FCStone group, added.
“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 capabilities in the region.”