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NEW YORK, May 8, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that First American Capital and Trading Corp. (FACT), has agreed to transfer its clear-through relationships and institutional correspondent customer accounts to INTL FCStone Inc.'s broker-dealer subsidiary, INTL FCStone Securities Inc. Completion of this transaction is subject to certain conditions, including regulatory approval.
First American Capital and Trading Corp. provides a correspondent clear-through ("piggy-back" or "third party" clearing) platform and execution services for domestic and foreign broker/dealers through a global network of partners. With its experienced team, FACT services a wide range of customers, including broker/dealers, investment advisors, and fund managers.
Charles Lyon, CEO of INTL FCStone Securities Inc., said, "We are thrilled to have this opportunity to serve FACT's customers and it is a tremendous opportunity to expand our securities business to include clear-through services throughout the US, Latin America and Europe. Bringing FACT's customers to INTL FCStone will allow us to introduce them to the wide variety of services offered by the firm."
About INTL FCStone Securities Inc.
INTL FCStone Securities Inc. provides trading, market making, investment banking and corporate finance services to customers around the globe. The investment banking division provides capital raising, mergers and acquisitions advisory, trade finance and bank loan syndication as well as restructuring and corporate advisory services to middle market firms in the natural resources, agriculture, financial institutions, power generation and real estate sectors. INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly-owned subsidiary of INTL FCStone Inc. (Nasdaq:INTL).
About INTL FCStone Inc.
INTL FCStone Inc. (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 20,000 customers in more than 100 countries through a network of offices in twelve countries around the world.