R.J. O'Brien Hires Two Bullion Trading Veterans for Global FX Division

Chicago-based R.J. O'Brien & Associates (RJO), the oldest and largest independent futures brokerage and Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term firm in the United States, announced today the appointment of Kevin J. Danca, 45, and Michael G. Connolly, 42, as Directors, FX and Precious Metals, based in the New York office.

The two new hires have joined RJO's global foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term division to spearhead precious metals sales and trading, building out the firm's expertise in the area as part of its growing institutional offering.

Danca and Connolly will report to Matthew Ardizzone, RJO Global Head of FX Sales, who said: "Kevin and Mike are seasoned professionals who bring a tremendous amount of market knowledge as well as sales and trading expertise to our global FX and metals offering. I am delighted to have the team join our division to drive our metals business."

Ardizzone said Danca and Connolly will focus on attracting and providing "high-touch service" to hedge funds and commodity trading advisors (CTAs), expanding upon the firm's over-the-counter (OTC), exchange-for-physical (EFP) and block futures trading capabilities.

Danca said: "I believe this is a great fit for us as RJO is committed to offering clients a personal, hands-on approach, backed up by deep resources and global support. I'm excited to help the firm significantly expand its metals business while maintaining the high level of service that RJO clients expect."

Connolly said: "Kevin and I have known each other for 15 years within the commodity business, and we're looking forward to working as a team at RJO. We've been incredibly impressed with the quality of people here and the enthusiasm about what we bring to the table."

Danca joined RJO from HSBC Bank USA, N.A. in New York, where he served as Vice President, Global Precious Metals since 2011. In that role, Danca was responsible for covering hedge funds within the precious metals markets. Prior to HSBC, Danca was Director, Precious and Base Metals at Newedge USA LLP from 2010 to 2011. From 1993 to 2010, Danca was a seat owner on the Comex floor, where he served as principal, managing multiple trading and marketing firms.

Connolly, a 16-year veteran of the precious metals markets, joined from Citrine Capital Management LLC in New York, where he was head trader. Prior to that, Connolly spent 14 years at HSBC, where he was Senior Vice President and Chief Dealer, Global Precious Metals Trading. Connolly began his career at Republic New York Securities.