INTL FCStone Acquires Fillmore Advisors

The outsourced firm will be added to the company’s recently formed prime broker division

INTL FCStone announced this morning that it is acquiring outsourced trading firm Fillmore Advisors. The financial details of the deal have not been disclosed. The development is set to add a new component to the recently established prime brokerage division of the company.

Back in April, INTL FCStone ventured into the prime brokerage space after identifying an opportunity due to years of consolidation in the space. The company focused on providing a platform for middle-sized hedge funds and other asset managers.

Fillmore Advisors will be an extension of the company’s prime broker offering. The transaction, which is subject to regulatory approval, is effective on closing.

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Outsourced Trading

The new acquisition of INTL FCStone is an independent firm and a leading provider of outsourced trading solutions. The company is providing operational consulting to institutional asset managers.

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The firm is headquartered in Park City, Utah, and is composed of traders with deep global expertise encompassing both buy-side and sell-side experience. Institutional clients will benefit from Fillmore Advisors’ comprehensive product coverage offering for equities, FX, credit, rates, and commodities.

Commenting on the news, the Managing Director and Co-Head of the INTL FCStone Prime Brokerage, Michael DeJarnette, said: “Outsourced trading is a rapidly growing segment of prime brokerage services, and the acquisition represents a tremendous opportunity to add a fast-growing leader in outsourced trading solutions as we continue to grow our division.”

Prime Brokerage Synergies

INTL FCStone’s prime brokerage division is already delivering to its clients a set of multi-asset services. Aside from the traditional PB service the firm will be able to provide outsourced trading, custody, self-clearing, and introduced clearing services for hedge funds, mutual funds, and family offices.

The division provides a flexible platform to more effectively execute trades, custody, and clearing for U.S. and global equities, options, futures, foreign exchange (FX), and fixed income through INTL FCStone.

Commenting on the news, the Partner and CEO of Fillmore Advisors Andrew Caplan, shared that the company would continue to partner with its existing clients.

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