INTL FCStone Acquires ICAP’s EMEA Oils Broking Business
- The acquisition follows the approval granted by the UK Competition and Markets Authority.
INTL FCStone Ltd, a subsidiary of INTL FCStone Inc. (NASDAQ:INTL), a global financial services organization that supports Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and advisory services across commodities, currencies and securities, has inked an agreement to acquire the London-based EMEA oils business of ICAP plc, per a company statement today.
CMA Approval
The news follows the decision by the Competition and Markets Authority (CMA) on 2 August 2016 indicating it was satisfied with undertakings from Tullet Prebon and ICAP’s global wholesale broking and information businesses, IGBB, to sell ICAP’s London-based oil desks responsible for providing broking services to customers in Europe, the Middle East and Africa (EMEA) to INTL FCStone Ltd as part of the merger.
This is an excellent opportunity to add an experienced and highly regarded team within the oil broking sector.
Following the approval of the acquisition, INTL FCStone Ltd is now permitted to secure a key assets and relationships in the commodities space. This includes assimilating a business with over thirty front office employees dealing with fuel, crude, middle distillates, futures, and options desks – the primary focus of the group is the EMEA region.
According to Philip Smith, Chief Executive Officer (CEO) of INTL FCStone Ltd, in a recent statement on the acqusition: “This is an excellent opportunity to add an experienced and highly regarded team within the oil broking sector. This customer-centric business helps complement our already extensive product and service offering out of London, that includes grains and oilseeds, coffee and cocoa, metals, foreign exchange, 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 and fixed income.”
INTL FCStone Ltd, a subsidiary of INTL FCStone Inc. (NASDAQ:INTL), a global financial services organization that supports Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and advisory services across commodities, currencies and securities, has inked an agreement to acquire the London-based EMEA oils business of ICAP plc, per a company statement today.
CMA Approval
The news follows the decision by the Competition and Markets Authority (CMA) on 2 August 2016 indicating it was satisfied with undertakings from Tullet Prebon and ICAP’s global wholesale broking and information businesses, IGBB, to sell ICAP’s London-based oil desks responsible for providing broking services to customers in Europe, the Middle East and Africa (EMEA) to INTL FCStone Ltd as part of the merger.
This is an excellent opportunity to add an experienced and highly regarded team within the oil broking sector.
Following the approval of the acquisition, INTL FCStone Ltd is now permitted to secure a key assets and relationships in the commodities space. This includes assimilating a business with over thirty front office employees dealing with fuel, crude, middle distillates, futures, and options desks – the primary focus of the group is the EMEA region.
According to Philip Smith, Chief Executive Officer (CEO) of INTL FCStone Ltd, in a recent statement on the acqusition: “This is an excellent opportunity to add an experienced and highly regarded team within the oil broking sector. This customer-centric business helps complement our already extensive product and service offering out of London, that includes grains and oilseeds, coffee and cocoa, metals, foreign exchange, 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 and fixed income.”