The boost was driven by a settlement in regards to the Barclays PLC ‘last look’ class action.
INTL FCStone, a global brokerage and financial services firm, has revealed its financial results for the first quarter of its 2019 fiscal year, which ended on December 31, 2018. During the quarter, while the firm overall saw a dip in revenues, the company’s prime brokerage sector recorded a solid performance.
For the three months ended December 31, 2018, INTL FCStone recorded total revenues of $6.55 billion. Even though all revenue segments reported an increase during the first quarter, except for sales of physical commodities, the total revenues achieved in Q1 of the 2019 fiscal year was down 17 percent when measured against the prior year corresponding period.
Net operating revenues, however, managed to climb by 14 percent year-on-year, rising from $130.3 million in the first quarter of the 2018 fiscal year to $149 million in the first quarter of 2019.
Commenting on the results, Sean O’Connor, the Chief Executive Officer of INTL FCStone Inc., said: “Our record financial performance in fiscal 2018 continued into our Q1 2019, with impressive 25% growth in operating revenues and a 31% increase in pre-tax earnings versus a year ago."
“We saw strong growth in transactional volumes in all of our major businesses which resulted in a record quarter for our Global Payments segment as well as our Equity Capital Markets businesses, which benefited from increased volatility and growing market share.”
INTL FCStone Prime Brokerage Revenues Soar in Q1 2019
Taking a look at INTL FCStone’s foreign exchange (Forex) prime brokerage unit, which offers FX services to the institutional trading market, operating revenues came in at $7.5 million in the first quarter of the 2019 fiscal year, a solid increase of 60 percent year-on-year.
This increase was in large part thanks to a $2.7 million settlement which was received during the period, in regards to the Barclays PLC ‘last look’ class action. Without this cash injection, FX prime brokerage operating revenues were flat year-on-year. However, this is still a rather good result considering that forex volumes dipped by 21 percent in the period as market volatility drove a widening of spreads.
INTL FCStone’s FX prime brokerage operates under the clearing and execution services arm of the company. For this sector as a whole, which also includes the firm’s voice brokerage business in the EMEA, operating revenues were $95.2 million in the first quarter. This represents a jump of 32 percent when compared to the prior year period, which recorded operating revenues of $72.2 million.
INTL FCStone, a global brokerage and financial services firm, has revealed its financial results for the first quarter of its 2019 fiscal year, which ended on December 31, 2018. During the quarter, while the firm overall saw a dip in revenues, the company’s prime brokerage sector recorded a solid performance.
For the three months ended December 31, 2018, INTL FCStone recorded total revenues of $6.55 billion. Even though all revenue segments reported an increase during the first quarter, except for sales of physical commodities, the total revenues achieved in Q1 of the 2019 fiscal year was down 17 percent when measured against the prior year corresponding period.
Net operating revenues, however, managed to climb by 14 percent year-on-year, rising from $130.3 million in the first quarter of the 2018 fiscal year to $149 million in the first quarter of 2019.
Commenting on the results, Sean O’Connor, the Chief Executive Officer of INTL FCStone Inc., said: “Our record financial performance in fiscal 2018 continued into our Q1 2019, with impressive 25% growth in operating revenues and a 31% increase in pre-tax earnings versus a year ago."
“We saw strong growth in transactional volumes in all of our major businesses which resulted in a record quarter for our Global Payments segment as well as our Equity Capital Markets businesses, which benefited from increased volatility and growing market share.”
INTL FCStone Prime Brokerage Revenues Soar in Q1 2019
Taking a look at INTL FCStone’s foreign exchange (Forex) prime brokerage unit, which offers FX services to the institutional trading market, operating revenues came in at $7.5 million in the first quarter of the 2019 fiscal year, a solid increase of 60 percent year-on-year.
This increase was in large part thanks to a $2.7 million settlement which was received during the period, in regards to the Barclays PLC ‘last look’ class action. Without this cash injection, FX prime brokerage operating revenues were flat year-on-year. However, this is still a rather good result considering that forex volumes dipped by 21 percent in the period as market volatility drove a widening of spreads.
INTL FCStone’s FX prime brokerage operates under the clearing and execution services arm of the company. For this sector as a whole, which also includes the firm’s voice brokerage business in the EMEA, operating revenues were $95.2 million in the first quarter. This represents a jump of 32 percent when compared to the prior year period, which recorded operating revenues of $72.2 million.
Swiss Exchange SIX Partners with Dubai Financial Market for Dual Listings
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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