FCStone Announces Establishment of New 24-Hour Institutional Trading Desk
29 June 2010 - 4:45AM
FCStone, LLC, a part of International Assets Holding Corporation
(INTL) (Nasdaq:IAAC), today announced that it has established a
24-hour institutional order execution desk that will serve
customers in all time zones across the globe.
The new trading desk, which will be located in Chicago, has been
designed to serve institutional customers, including CTAs
(Commodity Trading Advisors), and clearing and hedging customers of
FCStone. The new desk also will serve INTL's and FCStone's internal
network of brokers and traders.
The Order Execution Desk has been designed specifically for the
needs of customers with complex or contingent orders, and will be
managed by a newly established institutional execution team.
The team will be led by Bob Stephens, who has more than 25 years
of experience in handling complex and contingent orders. He
will work closely with Jon English, who has 24 years of industry
experience, with three other newly recruited institutional traders,
and with FCStone's existing team of institutional traders. The
new desk will incorporate FCStone's existing 24-hour trading desk
to provide a single center for institutional order execution.
"As our business grows, we have found that our customers
increasingly require more-extensive and more-sophisticated
execution capabilities and a dedicated trading team," commented
Xuong Nguyen, Executive Vice President and COO of Clearing
Operations for FCStone, LLC. "As our business becomes more
globally focused, it's more important than ever to offer our
customers service that spans all commodity classes, order types and
time zones."
Stephens said, "I'm excited to have this opportunity to work
with Xuong, Jon, and the other members of the team as we build a
world-class trading facility. INTL and FCStone's capabilities
are expanding tremendously, and I'm very gratified to contribute to
this growth."
About International Assets Holding
Corporation
International Assets Holding Corporation (INTL) provides
execution and advisory services in commodities, currencies and
international securities. INTL's businesses, which include the
commodities advisory and transaction execution firm FCStone Group,
serve more than 10,000 commercial customers in more than 100
countries through a network of offices in eleven countries around
the world. Further information on INTL is available at
www.intlassets.com.
Forward Looking Statements
This press release includes forward-looking statements including
statements regarding the combined company. All statements other
than statements of current or historical fact contained in this
press release are forward-looking statements. The words
"believe," "expect," "anticipate," "should," "plan," "will," "may,"
"could," "intend," "estimate," "predict," "potential," "continue"
or the negative of these terms and similar expressions, as they
relate to International Assets Holding Corporation, are intended to
identify forward-looking statements.
These forward-looking statements are based largely on current
expectations and projections about future events and financial
trends that may affect the financial condition, results of
operations, business strategy and financial needs of the combined
company. They can be affected by inaccurate assumptions,
including the risks, uncertainties and assumptions described in the
filings made by International Assets with the Securities and
Exchange Commission. In light of these risks, uncertainties and
assumptions, the forward-looking statements in this press release
may not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements. When you
consider these forward-looking statements, you should keep in mind
these risk factors and other cautionary statements in this press
release.
These forward-looking statements speak only as of the date of
this press release. International Assets undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Accordingly,
readers are cautioned not to place undue reliance on these
forward-looking statements.
CONTACT: FCStone, LLC
Bob Stephens
1-312-780-6961
robert.stephens@fcstone.com
CTADESK@fcstone.com
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