INTL FCStone Completes the Acquisition of the Futures and Options Brokerage and Clearing Business of UOB Bullion and Futures Limited in Singapore

INTL FCStone Inc. (NASDAQ: INTL) today announced that its Singaporean subsidiary INTL FCStone Pte Ltd (“IFP”) has met all conditions of the Asset Purchase Agreement it entered into on 18 March 2019 (the “APA”), and completed the acquisition of the futures and options brokerage and clearing business of UOB Bullion and Futures Limited, a subsidiary of United Overseas Bank Limited.

As part of the acquisition, IFP upgraded its Capital Markets Services license in Singapore so it can offer full service brokerage encompassing dealing in exchange-traded derivatives contracts, over-the-counter derivatives contracts and spot foreign exchange contracts for the purposes of leveraged foreign exchange trading. IFP was also admitted as a Trading Member of Singapore Exchange Derivatives Trading Limited (“SGX-DT”) and Clearing Member of Singapore Exchange Derivatives Clearing Limited (“SGX-DC”).

Greg Kallinikos, Chief Executive Officer of IFP and Deputy CEO, Asia for INTL FCStone group, commented on the closing of the transaction, “The successful completion of our acquisition of UOB Bullion and Futures Limited’s F&O business in Singapore marks the beginning of a new, exciting era for INTL FCStone in Asia. We are both thrilled and honoured by the prospect of serving our new customers and look forward to building long lasting relationships with all of them. This transaction significantly enhanced our regional and international capabilities with the addition of SGX as another major exchange we now offer clearing and execution services on. This is an important milestone in expanding INTL FCStone’s presence in Asia and fully supports our plans of offering a one-stop solution for all our customers’ market access needs for listed derivatives globally.”

SOURCE INTL FCStone Inc.