INTL FCStone Reports All-Time High Results in Q3
- Despite a lull in forex trading volumes, the firm's operating revenues in its FX Prime Brokerage increased by 13% year-on-year.
INTL FCStone Inc., a global provider of financial services, published its third quarter financial results ended June 30, 2018, for its fiscal year. The firm recorded all-time highs in both net income and earnings per share.
The firm provides an assortment of financial services. This includes execution technology, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools, and clearing services, aimed at institutional clients.
In the third quarter, the company’s net income was $24 million, the highest number to be recorded for the firm since its inception. This result is a large leap of 89 percent from last year’s third-quarter result, which was $12.7 million.
Operating revenues also showed a positive year-on-year jump of 27 percent in the third quarter, coming in at $259.8 million. For revenues, in particular, the firm broke records in its Clearing and Execution Services (CES) and Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term segments.
For the firm’s CES the operating revenues for the segment were $88.9 million in the third quarter of this fiscal year. When compared to the same period last year, this was an increase of 36 percent. Revenues for the Global payments segment were also up by 16 percent year-on-year in the third quarter, coming in at $26 million - a record for the company.
Commenting on the results, Sean M. O’Connor, CEO of INTL FCStone Inc., said: “The execution of our strategy of providing global clearing and execution across asset classes has positioned us to benefit from increases in market volatility and short term interest rates which has resulted in our current quarterly EPS of $1.25, which represents nearly fourfold growth since the first quarter of fiscal 2017. We have now achieved two consecutive quarters with an ROE of approximately 20%.”
FX Prime Brokerage revenues increase despite a lull in trading
INTL FCStone provides professional traders and financial institutions with prime brokerage foreign exchange (FX) services. Through its platform, its customers can trade over-the-counter products which include spot, forwards and options. In addition, the broker offers non-deliverable forwards in both liquid and exotic currencies.
In the third quarter of this year, operating revenues in its FX Prime Brokerage increased by 13 percent year-on-year to $5.1 million. This increase in revenues comes in spite of a decline in foreign exchange volumes of 36 percent. This was largely driven by market volatility, which drove a widening of spreads.
For Physical Commodities, operating revenues was $14.9 million in the third quarter. This was up by 24 percent from the same quarter last year. In addition, operating revenues for Precious Metals were also up by 15 percent year-on-year to $8.3 million in the third quarter.
INTL FCStone Inc., a global provider of financial services, published its third quarter financial results ended June 30, 2018, for its fiscal year. The firm recorded all-time highs in both net income and earnings per share.
The firm provides an assortment of financial services. This includes execution technology, Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools, and clearing services, aimed at institutional clients.
In the third quarter, the company’s net income was $24 million, the highest number to be recorded for the firm since its inception. This result is a large leap of 89 percent from last year’s third-quarter result, which was $12.7 million.
Operating revenues also showed a positive year-on-year jump of 27 percent in the third quarter, coming in at $259.8 million. For revenues, in particular, the firm broke records in its Clearing and Execution Services (CES) and Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term segments.
For the firm’s CES the operating revenues for the segment were $88.9 million in the third quarter of this fiscal year. When compared to the same period last year, this was an increase of 36 percent. Revenues for the Global payments segment were also up by 16 percent year-on-year in the third quarter, coming in at $26 million - a record for the company.
Commenting on the results, Sean M. O’Connor, CEO of INTL FCStone Inc., said: “The execution of our strategy of providing global clearing and execution across asset classes has positioned us to benefit from increases in market volatility and short term interest rates which has resulted in our current quarterly EPS of $1.25, which represents nearly fourfold growth since the first quarter of fiscal 2017. We have now achieved two consecutive quarters with an ROE of approximately 20%.”
FX Prime Brokerage revenues increase despite a lull in trading
INTL FCStone provides professional traders and financial institutions with prime brokerage foreign exchange (FX) services. Through its platform, its customers can trade over-the-counter products which include spot, forwards and options. In addition, the broker offers non-deliverable forwards in both liquid and exotic currencies.
In the third quarter of this year, operating revenues in its FX Prime Brokerage increased by 13 percent year-on-year to $5.1 million. This increase in revenues comes in spite of a decline in foreign exchange volumes of 36 percent. This was largely driven by market volatility, which drove a widening of spreads.
For Physical Commodities, operating revenues was $14.9 million in the third quarter. This was up by 24 percent from the same quarter last year. In addition, operating revenues for Precious Metals were also up by 15 percent year-on-year to $8.3 million in the third quarter.