INTL FCStone, the NASDAQ listed multi-asset broker, has released its quarterly financial results for the quarter which ended December 31, 2013, showing improvement in its FX business.
According to the company’s Q1 2014 report, operating revenues from its foreign exchange business reached $18.3 million during the three months that ended on December 31, 2013. This is a rise of 17.3% from the previous quarter’s figure of $15.6m and an increase of 13% year-over-year.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
INTL FCStone’s quarterly financial report does not specify if the FX earnings comes only from its online brokerage business or due in part to its proprietary trading. The report also does not specify any FX volumes or trading metrics, Forex Magnates requested this information and will update if and when it is provided.
Total operating revenues for the company were $113.4 million for the quarter, only a slight decline from $113.8 million seen during the previous three months period.
Sean M. O’Connor, CEO of INTL FCStone Inc., stated in the announcement: “The current quarter reflects slightly improved adjusted operating revenues and profitability. We saw strong revenue growth in our securities segment (up 36%) and our foreign exchange and global payments segment (up 13%), while our clearing and execution segment was up 6%. Our global payments and LME metals businesses achieved record revenues during the quarter. Towards the end of the quarter we saw an improvement in trading conditions with increased volatility and indications that the cyclical downturn in the grains market may be coming to an end.”