StoneX Group has announced plans to acquire R.J. O’Brien & Associates, a US futures brokerage firm. The deal, valued at an estimated $900 million in equity, is expected to close later this year.
According to the company’s report, under the agreement, R.J. O’Brien’s global operations will be merged into StoneX. The combined business is expected to be a substantial futures commission merchant in the US, with RJO's client accounts currently at 75,000.
Consolidation to Boost Global Market Infrastructure
“In addition to all the products we offer today, our clients and brokers will have a plethora of new products and services across asset classes available at their fingertips, bringing meaningful new trading and hedging opportunities. At the same time, our organization will benefit from new efficiencies, premier technologies, and greater growth potential,” RJO Chairman and CEO Gerry Corcoran said.
RJO CEO Gerry Corcoran, who has led the firm for over 20 years, will remain in a senior leadership role within StoneX. He framed the merger as a natural next step in the firm’s evolution, one that maintains client relationships while offering access to new products and platforms.
The merger also signals a shift in ownership for the O’Brien family, which has been a majority shareholder in RJO for generations. Following the transaction, they will become major shareholders in StoneX.
Next Steps and Closing Timeline
The transaction remains subject to regulatory approval and other closing conditions, and completion is expected in the third quarter of this year. Broadhaven Capital Partners provides financial advisory services for RJO, while Mayer Brown LLP serves as legal counsel.
StoneX Group has recently expanded significantly through notable acquisitions. Early this year, the NASDAQ-listed firm acquired Octo Finances, a Paris-based fixed-income brokerage, to strengthen its European presence. According to the company, the deal is expected to boost its offerings in bond and convertible sales, debt capital markets, and credit research.
StoneX also added Benchmark Company, a New York-based investment banking firm, into its brand last month. The step aimed to expand StoneX’s investment banking, equity research, and capital markets capabilities.
