Financial and Business News

StoneX Makes Waves with Montreal Exchange and ASX Membership

Thursday, 01/08/2024 | 16:34 GMT by Tareq Sikder
  • The firm allows clients to exploit CME–TMX spread opportunities following its TMX entry.
  • The new status has followed the entry as a member of the ASX in April 2024.
StoneX
StoneX

StoneX Group Inc. announced today that its subsidiary, StoneX Financial (Canada) Inc., has received Approved Participant status on the Montreal Exchange (TMX). This status enhances StoneX’s financial services network, which now covers over 40 derivatives exchanges worldwide.

Montreal Office Expands Services

StoneX Canada’s Montreal office, known for its commodity trading and risk management services, will now offer expertise in listed fixed income products on the TMX. This service is available to a range of global financial clients, including financial institutions, pension funds, hedge funds, index funds, and family offices.

Sean M. O’Connor, Founder, CEO, President, StoneX Group Inc
Sean M. O’Connor, Founder, CEO, President, StoneX Group Inc.

Clients from the US, Canada, and the EU can also take advantage of intermarket spread opportunities between the CME and the TMX, utilizing StoneX’s execution and clearing capabilities in Canadian markets.

The new TMX status has followed the company’s entry as a member of the Australian Securities Exchange (ASX) in April 2024, marking another step in its expansion into the APAC region.

“Combined with our recent entrance to the ASX, StoneX’s new status on the Montreal Exchange marks an important step in the Company’s global growth strategy,” said Alex Lacroix, Regional Director of StoneX Montreal.

“We look forward to leveraging Montreal’s position as a key derivatives hub to help our institutional clients seize new opportunities in the financial markets.”

NatWest Gains FX Services

Meanwhile, StoneX Financial Ltd, a subsidiary of StoneX, has partnered with NatWest Group PLC to enhance NatWest's international payments, as reported by Finance Magnates. StoneX Payments will supply NatWest with third-party delivery and FX payment services, enabling cross-border transactions in 10 additional currencies.

The collaboration will use StoneX’s API-driven platform and its network of over 350 correspondent banks to improve foreign exchange rates and payment transparency. NatWest clients will benefit from clearer payment details and broader access to previously unavailable markets.

StoneX Group Inc. announced today that its subsidiary, StoneX Financial (Canada) Inc., has received Approved Participant status on the Montreal Exchange (TMX). This status enhances StoneX’s financial services network, which now covers over 40 derivatives exchanges worldwide.

Montreal Office Expands Services

StoneX Canada’s Montreal office, known for its commodity trading and risk management services, will now offer expertise in listed fixed income products on the TMX. This service is available to a range of global financial clients, including financial institutions, pension funds, hedge funds, index funds, and family offices.

Sean M. O’Connor, Founder, CEO, President, StoneX Group Inc
Sean M. O’Connor, Founder, CEO, President, StoneX Group Inc.

Clients from the US, Canada, and the EU can also take advantage of intermarket spread opportunities between the CME and the TMX, utilizing StoneX’s execution and clearing capabilities in Canadian markets.

The new TMX status has followed the company’s entry as a member of the Australian Securities Exchange (ASX) in April 2024, marking another step in its expansion into the APAC region.

“Combined with our recent entrance to the ASX, StoneX’s new status on the Montreal Exchange marks an important step in the Company’s global growth strategy,” said Alex Lacroix, Regional Director of StoneX Montreal.

“We look forward to leveraging Montreal’s position as a key derivatives hub to help our institutional clients seize new opportunities in the financial markets.”

NatWest Gains FX Services

Meanwhile, StoneX Financial Ltd, a subsidiary of StoneX, has partnered with NatWest Group PLC to enhance NatWest's international payments, as reported by Finance Magnates. StoneX Payments will supply NatWest with third-party delivery and FX payment services, enabling cross-border transactions in 10 additional currencies.

The collaboration will use StoneX’s API-driven platform and its network of over 350 correspondent banks to improve foreign exchange rates and payment transparency. NatWest clients will benefit from clearer payment details and broader access to previously unavailable markets.

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About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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