INTL FCStone UK Subsidiary Agrees to Purchase TRX Futures Limited
NEW YORK, March 15, 2012 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL), today announced that INTL Holding (UK) Limited, a wholly owned subsidiary in the United Kingdom, has signed a sale and purchase agreement to acquire TRX Futures Limited from Neumann Gruppe GmbH. Closing is conditional upon approval of the Financial Services Authority. TRX Futures is a London-based brokerage and clearing firm for commercial coffee and cocoa customers, as well as energy and financial products. Its clients will benefit from INTL FCStone's infrastructure, commodities expertise and comprehensive array of exchange traded and over-the-counter products. As a clearing member of NYSE Liffe and ICE Futures Europe, TRX will add to INTL FCStone's existing clearing memberships, which include the London Metal Exchange.
Philip Smith, Chief Executive of INTL Holding (UK), commented, "We're thrilled at the prospect of adding the TRX team to our lineup. This acquisition represents a tremendous opportunity to enhance our capabilities in the soft commodities space with a unique team of commodity risk management professionals. In addition to their experience and expertise, TRX brings a wealth of customer relationships that we believe will benefit from being served by INTL FCStone."
Oscar Schaps, INTL FCStone's Managing Director of Global Soft Commodities, said, "This is a great chance to introduce TRX's customers to the scope of products and services offered by INTL FCStone, including exchange clearing and execution; sophisticated structured risk management solutions; corporate advisory services; foreign exchange and treasury services; and a wide variety of other financial services. INTL FCStone's commitment to mid-market commercial customers will serve these customers well."
About INTL FCStone Inc.
INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 commercial customers through a network of offices around the world. Further information on INTL FCStone Inc. is available at www.intlfcstone.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 INTL FCStone Inc., 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 INTL FCStone Inc. 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. INTL FCStone Inc. 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: INTL FCStone Inc.
Kent Coughlin
+1-615-234-2756
kent.coughlin@intlfcstone.com