StoneX has completed the acquisition of US clearing broker RJ O’Brien & Associates (RJO).
Philip Smith
The firm initially announced the acquisition in April 2025, which is set to make StoneX the largest non-bank futures commission merchant (FCM) in the US and support the firm in its goal to provide greater access to liquidity in fixed income markets.
Through the acquisition, RJO’s clients will gain access to a wide range of markets, products and services such as StoneX’s over the counter (OTC) hedging platform and liquidity across fixed income products.
“This transaction significantly expands our scale and increases our capabilities in several critical areas, including through a materially expanded client network and the addition of the leading introducing broker business,” said Philip Smith, chief executive of StoneX.
“This transaction adds significant value for our clients and reinforces our ability to deliver across asset classes through every market cycle.”
The firm has also said that the integration has allowed StoneX to target $50 million in expense savings, and gain access to at least $50 million in capital synergies through operational consolidation.
Read more – StoneX picks up fixed income brokerage Octo Finances
The move also expands StoneX’s client float by almost $6 billion, with clear listed derivatives volume projected to increase by 190 million contracts annually.
Gerry Corcoran, chairman and chief executive of RJO, said: “Today marks an exciting milestone as RJO joins StoneX to deliver broader services and greater reach to our clients. We will continue to deliver the same level of outstanding and personalised service we’ve always provided – now on an even larger scale with more extensive resources.”
Corcoran will continue in a senior leadership role with StoneX as part of the acquisition.
Currently, RJO holds over 75,000 client accounts and supports approximately 300 introducing brokers (IBs), in addition to commercial and institutional clients and individual investors.
The firm also generated $766 million in revenue over the calendar year 2024.