StoneX Group Inc. - SNEX STOCK NEWS

On May 17, 2022, StoneX Group Inc. announced the execution and settlement of its first cash-settled BTC/USD swap through its subsidiary, StoneX Markets LLC. This marks a significant step in expanding their institutional FX offerings, complementing over 40 currency trading pairs. The swap was executed with Liquidity Solutions Global, enhancing digital asset market access for institutional clients without the need for physical custody. StoneX, serving over 370,000 retail accounts, plans to launch more crypto products within the next year, asserting its position in the digital asset landscape.

StoneX Group Inc. (NASDAQ: SNEX) reported record operating revenues of $544.7 million for Q2 FY2022, a 16% increase year-over-year. Net income rose 16% to $64.0 million, with a diluted EPS of $3.11, up 14%. The company's return on equity was 26.1%. Growth was driven by strong results in the Commercial and Retail segments, alongside favorable market conditions despite challenges from geopolitical tensions. Year-to-date net income reached $105.7 million, or $5.15 per share.

StoneX Group Inc. (Nasdaq:SNEX) announced an amendment to its existing $401 million senior secured credit facility, increasing it to $475 million and extending its maturity to April 2025. The revised facility will consist solely of a revolving credit facility aimed at financing working capital needs. CEO Sean O'Connor expressed optimism about the renewal, highlighting enhanced support from existing bank partners and new relationships. The facility was arranged by major institutions including Bank of America Merrill Lynch and Capital One, among others.

StoneX Group Inc. (NASDAQ: SNEX) will release its fiscal 2022 second quarter results on May 4, 2022, after market close. A conference call to discuss these results is scheduled for May 5, 2022, at 9:00 a.m. Eastern time. Participants can join the call via the provided numbers or preregister online. A replay will be accessible approximately two hours post-call until May 11, 2022. StoneX operates a global financial services network, serving over 52,000 clients and listed on the Nasdaq Global Select Market.

StoneX Group Inc. (NASDAQ: SNEX) announced the expansion of its FOREX.com trading platform in Canada, introducing over 2,500 new tradeable markets for Canadian investors. This expansion includes commission-free CFD stock trading until July 1, 2022, providing access to popular stocks like Robinhood and Coinbase. The total offering now includes 3,000 products, with fractional shares available for indices and commodities. This move aims to enhance client access and meet the growing demand for diverse trading options in the Canadian market.

Barchart has partnered with StoneX to enhance grain merchandiser workflows by integrating Barchart's grain accounting APIs into StoneX's StoneHedge platform. This collaboration aims to streamline operations for mutual agribusiness clients, allowing for automated hedging, contract creation, and improved overall efficiency. The integration will reduce risks and provide more choices, benefiting clients connected to Barchart's secure grain elevator network. Barchart's CEO Mark Haraburda emphasizes the significant advantages of this partnership for grain merchandisers worldwide.

StoneX Group Inc. has launched the Farm Advantage app, a free tool for farmers to manage their marketing, risk, and profitability. Available on Apple and Google stores, the app offers market quotes, cash bids, weather data, and trading tools. It aims to empower agricultural producers with data for informed pricing decisions, featuring a profit calculator for various crops. The launch emphasizes StoneX's commitment to the farming community, enhancing operational transparency and control for farmers.

StoneX Group (NASDAQ: SNEX) announced that its subsidiary, StoneX Financial Ltd (SFL), has joined the Platinum Group Metals auction at the London Metal Exchange (LME). This makes SFL the first non-bank member of all major precious metals auctions in London, including the IBA Gold and Silver auctions. Barry Canham, head of the Metals Division, expressed excitement about this milestone, highlighting strong customer demand and the supportive relationship with the LME. The new membership will enhance SFL’s trading capabilities and contribute to price discovery in the metals market.

StoneX Group Inc. (NASDAQ: SNEX) reported Q1 fiscal 2022 revenues of $450.5 million, marking a 19% increase compared to the previous year. Net income surged to $41.7 million, resulting in a 114% growth year-over-year. The diluted EPS reached $2.04, up 108%. The return on equity (ROE) stood at 18.0%. Notable revenue increases were seen across segments: OTC derivatives climbed 93%, while physical commodities jumped 72%. These results reflect robust client engagement and market share gains amidst rising market volatility.