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NEW YORK, April 11, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its subsidiary, INTL Hanley, LLC, expanded its precious metal trading capabilities through the addition of Peter Thomas and Thomas Garland as Senior Traders focusing on North American Precious Metals operations.
Thomas and Garland join INTL Hanley, LLC from a Chicago-based metals firm where they developed two electronic trading systems in the buying, selling, hedging, storing, shipping and insuring of precious metals around the world. The first of these two systems, now known as INTL Bullion Cart (
www.intlbullioncart.com ), allows traders and dealers to acquire precious metals via a convenient, web-based interface. INTL Tornado Precious Metals Trading System (
www.intltornado.com ) is a trading system that allows traders and dealers to hedge their price risk whether buying or selling. The combination of these two services provide counterparties that qualify as Eligible Contract Participants with an integrated solution for not only managing their price risk but many aspects of their precious metals inventory management needs.
George Hanley, CEO of INTL Hanley, LLC, said, "Adding Peter and Thomas to the team is a major step forward in helping our customers operate their businesses as efficiently as possible. Their experience and expertise combined with the technology they have developed will allow our customers to take advantage of some of the most advanced tools available in the industry."
Jeffrey Rhodes, INTL FCStone's Global Head of Precious Metals, commented, "Bringing together this team, their technology and the resources of INTL FCStone Inc. provides our customers the unique ability to reduce box risk exposure for smaller retailers around the world. Anyone with a PC or even a smart phone can hedge their price risk exposure when buying or selling precious metals."