Two of INTL FCStone Inc.’s subsidiaries, INTL FCStone Markets Inc. and INTL FCStone Ltd, have licensed TwoFour’s FX Back Office for the firm’s FX Prime Brokerage group, according to a statement issued by TwoFour Systems. INTL FCStone is now using TwoFour’s FX front-to-back across its enterprise offering.
The system in place at FC Stone includes margin processing, limit monitoring and HTML 5-based client web portal, all provided by TwoFour Systems. According to the company statement, users of the FX Prime Brokerage offering of FC Stone are globally spread out.
The move comes as INTL FCStone expanded operations globally and acquired multiple FX companies and systems to maintain its business. Looking for a partner to assist in consolidating the different businesses into a single platform, the company chose TwoFour as an already existing product vendor for INTL FCStone and the complete offering of a full front, middle and back office solution.
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Aside from boasting with trade processing and management, settlement and reporting features, TwoFour is providing INTL FCStone the capability of managing and computing margin requirements, credit, margin fee thresholds, gross margining and market risks associated with the company’s exposure to positions within the system.
The collaboration between the companies dates back to 2008, when it started with an FX position keeping components and evolved into a wider partnership in 2011, when INTL FCStone implemented TwoFour’s FX into its Global Payment and Precious Metals trading businesses.
INTL FCStone’s Global Head of FX, Edgar Ramon, commented in the company’s statement, “Over the years, INTL FCStone has expanded its usage of TwoFour based on TwoFour’s consistent delivery of reliable, high performance FX solutions.”