{{Short description|Financial services company}} {{Undisclosed paid|date=June 2021}} {{paid contributions|date=May 2024}} {{Infobox company | name = StoneX Group Inc. | logo = StoneX Group Inc official 2023 logo.svg | logo_size = | former_name = INTL FCStone | type = Public | founded = {{start date and age |1924}} | traded_as = {{NASDAQ|SNEX}}<br>S&P 600 Component | key_people = Sean O’Connor (CEO)<br>Bill Dunaway (CFO)<br>Stuart Davison (COO) | industry = Financial services | revenue = {{up}}US$64.38 billion (2023){{CN|date=January 2025}} | net_income = {{up}}US$234.8 million (2023)<ref>{{cite web |title=StoneX Group Inc. Reports Fiscal 2022 Fourth Quarter Financial Results |url=https://simplywall.st/stocks/us/diversified-financials/nasdaq-snex/stonex-group |website=StoneX |access-date=29 June 2021}}</ref> | num_employees = 4,000 (2024)<ref>{{cite web |title=StoneX Group Inc. 2022 Annual Report |url=https://simplywall.st/stocks/us/diversified-financials/nasdaq-snex/stonex-group |website=StoneX |access-date=17 February 2022}}</ref> | predecessors = International Assets Holding Corporation, FCStone Group | location = New York | homepage = {{URL|https://www.stonex.com/en/}} }}
'''StoneX Group Inc.''' (previously '''INTL FCStone''') is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
{{As of |2023}}, the company was ranked No. 59 in the ''Fortune'' 500 list of the largest United States corporations by revenue.{{CN|date=January 2025}} In July 2020, the company rebranded and changed its name to StoneX Group Inc.<ref name=":1">{{Cite web|title=INTL FCStone to rebrand as StoneX Group - The TRADE|url=https://www.thetradenews.com/intl-fcstone-to-rebrand-as-stonex-group/|access-date=2020-08-21|website=www.thetradenews.com}}</ref><ref name=":2">{{Cite web|date=2020-05-14|title=US Market Maker INTL FCStone to Rebrand as StoneX Group|url=https://www.financemagnates.com/institutional-forex/us-market-maker-intl-fcstone-to-rebrand-as-stonex-group/|access-date=2020-08-21|website=Finance Magnates {{!}} Financial and business news|language=en}}</ref>
== History ==
=== Foundation and early years === StoneX Group Inc. began as a door-to-door egg wholesaler that eventually grew into a butter and egg broker known as Saul Stone and Company. Saul Stone fled persecution in his homeland, Russia, and settled in Chicago in 1921. In 1924, Stone started selling farm wares. Eventually, he moved into hedging futures contracts and dealing in a variety of commodity contracts. In 1938, his firm became a member of the Chicago Mercantile Exchange. In 1946 it was incorporated as Saul Stone & Co.<ref>{{Cite news|url=https://www.chicagotribune.com/1992/05/05/merc-broker-israel-backer-saul-stone/|title=Merc Broker, Israel Backer Saul Stone|work=tribunedigital-chicagotribune|access-date=2018-08-29|language=en}}</ref> Decades later, Saul Stone & Co. merged with Farmer's Commodity Corporation.<ref>{{Cite web|url=https://decisivefarming.com/intl-fcstones-future-is-fueled-by-its-innovative-roots/|title=INTL FCStone's future is fueled by its innovative roots - Decisive Farming|website=decisivefarming.com|date=11 October 2017|language=en-US|access-date=2018-08-29}}</ref> After the merger, the new company called itself FCStone Group, Inc.<ref>{{Cite web|url=http://www.uwcc.wisc.edu/outreach/FCC/PastConferences/farmercoops07/anderson_o.pdf|title=FCStone Group, Inc. - Conversion Overview}}</ref>
=== IPO in 2007 === In 2007, StoneX went public.<ref>{{Cite news |date=2007-03-15 |title=FCStone IPO raises $122 million, top of range |language=en |work=Reuters |url=https://www.reuters.com/article/fcstone-ipo-idUSN1544566320070315 |access-date=2022-05-02}}</ref> The company acquired Chicago-based Downes-O’Neil LLC that same year.<ref>{{Cite web|url=https://www.boardroominsiders.com/executive-profiles/13039/INTL-FCStone-Inc./Michael-Antman|title=Executive Profile {{!}} INTL FCStone Inc. {{!}} Michael Antman|website=www.boardroominsiders.com|access-date=2018-09-06}}</ref> In 2008, StoneX acquired Globecot, Inc. and The Jernigan Group, LLC, a brokerage group that worked with global fiber and textile industries.<ref>{{Cite news|url=https://www.reuters.com/article/intlfcstone-commodities-news-idUSL1E8KPIEQ20120925|title=INTL FCStone grows from commodity broking to breaking news |work=Reuters|access-date=2018-09-06|language=en-US}}</ref><ref>{{Cite news|url=https://www.cottongrower.com/cotton-news/fcstones-globecot-inc-changes-name-to-fcstone-fibers-and-textiles/|title=FCStone's Globecot, Inc. Changes Name to FCStone Fibers and Textiles|date=2009-04-28|work=Cotton Grower|access-date=2018-09-06|language=en-US}}</ref> In 2009, International Assets Holding Corporation (IAHC) and FCStone Group merged to become INTL FCStone (now StoneX Group Inc.).<ref>{{Cite news|url=https://www.reuters.com/article/fcstone-fcm-stress/fcstone-brokerage-boss-quits-amid-stress-from-regulations-ceo-idUSL2N0LB1LX20140206?type=companyNews&feedType=RSS&feedName=companyNews|title=FCStone brokerage boss quits amid stress from regulations -CEO|last=Polansek|first=Tom|work=U.S.|access-date=2018-09-06|language=en-US}}</ref> Diego Veitia, who also helped found the Costa Rica Stock Exchange, founded IAHC. Veitia served as a chairman with StoneX.<ref>{{Cite web|url=http://www.marketswiki.com/wiki/INTL_FCStone_Inc.|title=INTL FCStone Inc. - MarketsWiki, A Commonwealth of Market Knowledge|website=www.marketswiki.com|language=en|access-date=2018-09-06}}</ref>
The new company acquired Hanley Group Ltd in 2010, a provider of over-the-counter (OTC) products.<ref>{{Cite news|url=https://www.chicagotribune.com/2013/04/11/intl-fcstone-adds-thomas-garland-to-precious-metals-team/|title=INTL FCStone adds Thomas, Garland to precious metals team|work=tribunedigital-chicagotribune|access-date=2018-09-10|language=en}}</ref> It was combined with StoneX's existing OTC trade business. Further expansion happened with a transaction to purchase the futures operation of Miami-based Hencorp Group, Hencorp Futures. Hencorp Futures changed its name to INTL Hencorp Futures and expanded StoneX's trading commodities to include coffee, sugar, and cocoa.<ref>{{Cite web|url=http://www.rttnews.com/1435858/international-assets-holding-buys-futures-division-of-hencorp-quick-facts.aspx|title=International Assets Holding Buys Futures Division Of Hencorp - Quick Facts|website=RTTNews|language=en-US|access-date=2018-09-10}}</ref>
=== Acquisitions 2010 - 2025 === In 2010, the company partnered with Decisive Farming. INTL provided the organization with Know-Risk, a marketing tool that helps farmers customize crop marketing plans based on price triggers and time triggers.<ref>{{Cite news|url=https://agfundernews.com/how-decisive-farming-hopes-to-differentiate-itself-in-frothy-digital-ag-space.html/|title=How Decisive Farming Hopes to Differentiate Itself in Frothy Digital Ag Space - AgFunderNews|date=2016-11-03|work=AgFunderNews|access-date=2018-09-11|language=en-US}}</ref><ref>{{Cite web|url=http://www.renterra.ca/renterras-partnership-with-decisive-farming|title=Renterra's Partnership with Decisive farming - Renterra|website=www.renterra.ca|access-date=2018-09-11}}</ref>
The company reached an agreement with Hudson Capital Energy LLC (HCEnergy), a New York-based energy risk-management firm, in 2011. INTL's subsidiary, StoneX Group Inc. (previously FCStone LLC), took over HCEnergy's business and customers. This included HCEnergy's Swiss subsidiary, HCEnergy Europe GmbH. The transaction expanded StoneX Group Inc.’s energy risk portfolio to include greater capability in crude oil and refined products.<ref>{{Cite news|url=https://www.nbcnews.com/id/wbna42660557|title=INTL FCStone Inc. and Hudson Capital Energy Reach Agreement|date=2011-04-19|work=msnbc.com|access-date=2018-09-12|language=en}}</ref> In 2011, StoneX Group Inc. also saw the beginning of INTL’s CommodityNetwork. That year, INTL purchased online industry newsletter CoffeeNetwork from Hencorp Group. A year later, the company announced plans to expand network coverage into the four major commodities: metals, agriculture, energy and softs.<ref>{{Cite news|url=https://www.reuters.com/article/intlfcstone-commodities-news/intl-fcstone-grows-from-commodity-broking-to-breaking-news-idUSL1E8KPIEQ20120925|title=INTL FCStone grows from commodity broking to breaking news |work=Reuters|access-date=2018-09-12|language=en-US}}</ref> It already had cotton and dairy news sites, Globecot News Network and eDairy. The company won the Forex Magnates’s industry award for best liquidity provider.<ref>{{Cite news|url=https://www.financemagnates.com/forex/analysis/intl-fcstone-gets-ok-from-fca-to-consolidate-foreign-exchange-and-execution-business/|title=FCA Approves INTL FCStone's Consolidation of its Foreign Exchange and Execution Business {{!}} Finance Magnates|date=2014-03-25|work=Finance Magnates {{!}} Financial and business news|access-date=2018-09-18|language=en-US}}</ref>
In 2014, INTL’s subsidiary StoneX (previously INTL FCStone) acquired Sinclair and Company. Sinclair, an introducing broker, focused on dairy, grains and livestock markets. In 2015, INTL finalized a transaction to acquire G.X. Clarke & Co for about $27 million.<ref>{{Cite news|url=https://www.financemagnates.com/forex/analysis/intl-fcstone-inc-acquires-fixed-income-dealer-g-x-clarke-co/|title=INTL FCStone Inc Acquires Fixed Income Dealer G.X. Clarke & Co|date=2014-11-13|work=Finance Magnates {{!}} Financial and business news|access-date=2018-09-18|language=en-US}}</ref> G.X. was founded in 1979. It was registered with the SEC as an institutional dealer in fixed-income securities.
In 2016, the company acquired Sterne Agee. The sale included Sterne Agee’s clearing business and RIA businesses. INTL purchased the company from Stifel, just over a year after Stifel bought Sterne Agee as part of a $150 million acquisition.<ref>{{Cite web|url=http://www.investmentnews.com/article/20160627/FREE/160629927/stifel-selling-off-sterne-agee-independent-broker-dealer-business-it|title=Stifel selling off Sterne Agee independent broker-dealer business it acquired last year|last=Kelly|first=Bruce|website=www.investmentnews.com|date=13 September 2016|access-date=2018-09-19}}</ref>
In late January 2018, an agreement between INTL FCStone Financial, a subsidiary of StoneX Group Inc. (INTL FCStone at the time), and European platform Allfunds Bank went live. The agreement gave advisors using FCStone Financial access to thousands of UCITS funds without having to sign individual contracts with each strategies’ manager or distributor. FCStone Financial was the first US-based clearing firm with access to the Allfunds platform. Allfunds is the largest fund platform in Europe and offers access to more than 57,000 funds from over 1,200 fund managers.<ref>{{Cite news|url=http://citywireamericas.com/news/allfunds-enters-us-offshore-market-with-intl-fcstone-deal/a1091706|title=Allfunds enters US offshore market with INTL FCStone deal|work=Citywire|access-date=2018-09-19|language=en}}</ref>
In 2025, StoneX acquired R.J. O'Brien & Associates (RJO), the oldest futures brokerage and clearing firm in the United States, for $900 million, with a plan to absorb all of RJO's global businesses.<ref>{{Cite web |last=Basar |first=Shanny |date=2025-04-14 |title=StoneX Group Acquires R.J. O’Brien for $900m |url=https://www.marketsmedia.com/stonex-group-acquires-r-j-obrien-for-900m/ |access-date=2025-04-15 |website=Markets Media |language=en-US}}</ref>
=== Metals and futures outside the US, 2011-2020=== StoneX first started working with London Metal Exchange (LME) in 2011, when it purchased MF Global Holding's metals unit.<ref>{{Cite news|url=https://www.reuters.com/article/us-mfglobal-fcstone-metals-idUSTRE7AO1CG20111125|title=INTL FCStone to acquire MF Global's UK metals arm|last=Thomas|first=Susan|work=U.S.|access-date=2018-09-19|language=en-US}}</ref> In August 2018, StoneX started developing an electronic trading platform for its LME clients,<ref>{{Cite web|url=https://www.fastmarkets.com/article/3824658/interview-intl-fcstone-developing-lme-technology-platform-adding-staff|title=INTL FCStone developing LME technology platform, adding staff|website=Fast Markets|date=2 August 2018 }}</ref> which would be similar to one created for INTL's precious metals clients called PMXecute.<ref>{{Cite web |title=PMXecute |url=https://www.stonex.com/Commodities/Metals/Capabilities/Precious-Metals/Electronic-Trading-Platforms/PMXecute/ |access-date=2022-05-02 |website=www.stonex.com |language=en}}</ref> There is also PMXecute+, which connects consumers and suppliers of physical gold.<ref>{{Cite news|url=http://www.kitco.com/news/2017-09-12/Is-Gold-Overpriced-This-Bullish-Firm-Thinks-So.html|title=Is Gold Overpriced? This Bullish Firm Thinks So|date=2017-09-12|work=Kitco News|access-date=2018-09-19}}</ref> In December 2018, StoneX announced that it would be acquiring GMP's US-based fixed-income trading business, formerly known as Miller Tabak Roberts Securities, LLC.<ref>{{Cite web|url=https://www.financemagnates.com/institutional-forex/regulation/intl-fcstone-secures-sec-approval-to-acquire-gmp-securities/|title=INTL FCStone Secures Acquires GMP Securities{{!}} Finance Magnates|date=2019-01-15|website=Finance Magnates {{!}} Financial and business news|language=en|access-date=2019-07-17}}</ref><ref>{{Cite web|url=https://newyork.citybizlist.com/article/541988|title=INTL FCStone Fixed Income Group Expands Offerings|website=Citybizlist|access-date=2019-07-17}}</ref><ref>{{Cite web|url=http://www.euroinvestor.dk/nyheder/2018/12/12/intl-fcstone-inc-agrees-to-acquire-gmps-us-based-fixed-income-trading-business-formerly-known-as-miller-tabak-roberts-securities-llc/13943906|title=INTL FCStone Inc. Agrees to Acquire GMP's US-based Fixed Income Trading Business, formerly known as Miller Tabak Roberts Securities, LLC|website=EuroInvestor|access-date=2019-07-17}}</ref>
In 2019 StoneX Group Inc. acquired the futures and options brokerage and clearing business of UOB Bullion and Futures Limited in Singapore.<ref>{{Cite web|url=https://www.businesstimes.com.sg/companies-markets/uob-bullion-and-futures-to-sell-brokerage-and-clearing-business-for-us5m|title=UOB Bullion and Futures to sell brokerage and clearing business for US$5m|last=Gek|first=Tay Peck|date=2019-03-19|website=The Business Times|language=en|access-date=2019-07-25}}</ref> In April 2019, StoneX launched a prime brokerage division.<ref name=":0">{{Cite web|url=http://www.securitieslendingtimes.com/securitieslendingnews/article.php?article_id=223016|title=INTL FCStone launches prime brokerage division|website=www.securitieslendingtimes.com|access-date=2019-07-29}}</ref> The new division offers clearing services for hedge funds, mutual funds, and family offices.<ref name=":0" /> In February 2020, StoneX announced the acquisition of U.S.-based brokerage GAIN Capital Holdings Inc., primarily known as the operator of retail brands Forex.com globally and City Index in the UK. The all-cash deal, approved by the boards of both companies, was worth about $236 million in equity value.<ref>{{Cite web|url=https://www.financemagnates.com/forex/brokers/intl-fcstone-to-acquire-gain-capital-in-all-cash-deal/|title = INTL FCStone to Acquire GAIN Capital in All-Cash Deal|date = 27 February 2020}}</ref><ref>{{Cite press release|url=http://www.globenewswire.com/news-release/2020/02/27/1991754/0/en/INTL-FCStone-Inc-Agrees-to-an-All-cash-Acquisition-of-GAIN-Capital-Holdings-Inc-at-6-00-Per-Share.html|title=INTL FCStone Inc. Agrees to an All-cash Acquisition of GAIN Capital Holdings, Inc. at $6.00 Per Share |date=2020-02-27|website=GlobeNewswire News Room|access-date=2020-03-05}}</ref>
=== Farmers Commodities Corporation, 1978-2009 === Founded in 1978, the firm was known as the Farmers Commodities Corporation until 2002. StoneX Group Inc. (previously FCStone Group) provided integrated risk management services such as market intelligence and analysis to help commodity traders in industries like agriculture, renewable fuels, energy, food service, carbon credits, and forest products. In 2007, the company went public raising $95 million. StoneX executed more than 100 million derivative contracts in 2008 and was a clearing member on all major US future exchanges. The Group served commercial commodity intermediaries, end-users, and producers around the world. As of Sept. 30th, 2009, StoneX Group Inc. operates as a subsidiary of International Assets Holding Corp.<ref name="yahoo">{{cite news|url=https://finance.yahoo.com/q/pr?s=INTL+Profile|title=INTL FCStone Inc.|work=Yahoo! Finance|accessdate=22 October 2013}}</ref><ref name=bloomberg>{{cite magazine|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=13449251|archive-url=https://archive.today/20131026234851/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=13449251|url-status=dead|archive-date=October 26, 2013|title=Company Overview of FCStone Group, Inc.|magazine=Bloomberg Businessweek|accessdate=22 October 2013}}</ref><ref name="bloomberg.com">{{cite web|url=https://www.bloomberg.com/quote/fcsx:us|title=FCStone Group Inc|publisher=Bloomberg|accessdate=22 October 2013}}</ref>
=== International Assets Holding Corporation, 1981-2010 === IAHC began as the International Assets Advisory Corporation in 1981. The company started in Winter Park, Florida in 1981 and was headed by Diego J. Veitia, a graduate of the Thunderbird School of Global Management. The firm's initial focus was the private placements of stocks and bonds of foreign companies. IAAC then turned its attention to high-net-worth clients, including individuals and financial institutions, and diversifying their investment portfolios through the sales of equity securities and global debt. In 1987, Veitia created a holding company called International Assets Holding Corporation which went public in 1994. IAHC transitioned into becoming a market maker of international equity securities in the early 2000s and as of 2010 was a global financial services provider operating through wholly owned subsidiaries in the US, Dubai, Singapore, Argentina, the UK, Brazil, and Uruguay.<ref name=gale>{{cite journal|author=Ed Dinger|title=International Assets Holding Corporation.|journal=International Directory of Company Histories|volume=111|pages=244–247|year=2010}}</ref>
=== Merger in 2009 === In 2009, StoneX Group Inc. (previously INTL FCStone) and the International Assets Holding Corporation merged, with Sean O'Connor becoming CEO and Diego Veitia Chairman. StoneX operates as an independent business unit of IAHC, ceased trading stock on Sept. 30th, and brings over $229.3 million in operation revenues. IAAC officially became INTL FCStone in Feb. 2011 (now StoneX Group Inc.).<ref name=gale/> StoneX Group Inc. serves more than 32,000 accounts, and more than 330,000 active retail accounts, in more than 180 countries through a network of 70 offices around the world.<ref>{{Cite web|title=Vets Start StoneX Office|url=https://www.bizjournals.com/pittsburgh/news/2021/07/13/bny-mellon-vets-start-stonex-office.html|access-date=2021-08-05|website=www.bizjournals.com}}</ref> Within a month of the merger, IAHC expanded operations to the Pacific Rim with a new office in Sydney, Australia.<ref name="gale" />
=== Company name change 2020 === In July 2020, the company rebranded and changed its name to StoneX Group Inc.<ref name=":1" /><ref name=":2" /> In October 2020, StoneX finalized its acquisition of Frankfurt-based Giroxx which now operates as StoneX Financial GmbH from within the Global Payments division.<ref>{{Cite web|last=Boggdanova|first=Steffy|date=6 October 2020|title=StoneX completes acquisition of GIROXX GmbH in Germany|url=https://www.leaprate.com/forex/institutional/stonex-completes-acquisition-of-giroxx-gmbh-in-germany/|website=LeapRate}}</ref>
== Subsidiaries == * StoneX Ltd: formerly known as INTL FCStone (Europe) Limited, its name was changed in March 2013. It is based in the United Kingdom.<ref>{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=49587361|title=Terms of Service Violation|website=www.bloomberg.com|access-date=2018-08-30}}</ref> * StoneX Financial Inc.: formed in 2015 after the merger of three subsidiaries into INTL FCStone Securities Inc. The three subsidiaries were FCStone, LLC, INTL FCStone Partners LP, and FCC Investments, Inc.<ref>{{Cite news|url=https://www.marketwatch.com/press-release/intl-fcstone-to-consolidate-us-subsidiaries-2015-07-01|title=INTL FCStone to Consolidate U.S. Subsidiaries|work=MarketWatch|access-date=2018-08-30|language=en-US}}</ref> * StoneX Markets, LLC<ref>{{Cite web|url=https://www.cftc.gov/PressRoom/PressReleases/pr7216-15|title=CFTC Orders Swap Dealer INTL FCStone Markets, LLC to Pay a $200,000 Civil Monetary Penalty for Failure to Supervise Swaps Trading in Violation of CFTC Regulation 23.602 {{!}} U.S. COMMODITY FUTURES TRADING COMMISSION|website=www.cftc.gov|language=en|access-date=2018-08-30}}</ref>
==References== {{Reflist}}
Category:Companies based in New York (state) Category:Risk management companies Category:1924 establishments in the United States Category:Tax avoidance in the United States