StoneX Financial Achieves GCM Status with ECC
StoneX Financial , a subsidiary of StoneX Group Inc. (NASDAQ: SNEX), has obtained General Clearing Member (GCM) status from European Commodity Clearing AG (ECC). This achievement enables StoneX Financial to provide expanded services to Non-Clearing Members, including power and gas futures, spot contracts, and EEX carbon auctions. The GCM status enhances the company's ability to serve clients in power, gas, and carbon markets. This development follows other strategic expansions in 2024, including memberships in IIBX, TMX, ASX, and Abaxx Exchange.
StoneX Financial, una filiale di StoneX Group Inc. (NASDAQ: SNEX), ha ottenuto lo status di General Clearing Member (GCM) da parte di European Commodity Clearing AG (ECC). Questo traguardo consente a StoneX Financial di offrire servizi ampliati ai Non-Clearing Members, inclusi i futures su energia e gas, contratti spot e aste di carbonio EEX. Lo status di GCM potenzia la capacità dell'azienda di servire i clienti nei mercati dell'energia, del gas e del carbonio. Questo sviluppo segue altre espansioni strategiche nel 2024, comprese le adesioni a IIBX, TMX, ASX e Abaxx Exchange.
StoneX Financial, una filial de StoneX Group Inc. (NASDAQ: SNEX), ha obtenido el estatus de General Clearing Member (GCM) de European Commodity Clearing AG (ECC). Este logro permite a StoneX Financial ofrecer servicios ampliados a los Non-Clearing Members, incluyendo futuros de energía y gas, contratos al contado y subastas de carbono de EEX. El estatus de GCM mejora la capacidad de la empresa para atender a los clientes en los mercados de energía, gas y carbono. Este desarrollo sigue a otras expansiones estratégicas en 2024, incluyendo membresías en IIBX, TMX, ASX y Abaxx Exchange.
StoneX Financial은 StoneX Group Inc. (NASDAQ: SNEX)의 자회사로, European Commodity Clearing AG (ECC)로부터 General Clearing Member (GCM) 자격을 획득했습니다. 이 성과는 StoneX Financial이 비청산회원에게 전력 및 가스 선물, 현물 계약, EEX 탄소 경매를 포함한 확장된 서비스를 제공할 수 있도록 합니다. GCM 자격은 회사가 전력, 가스 및 탄소 시장에서 고객에게 서비스를 제공할 수 있는 능력을 강화합니다. 이 발전은 2024년 IIBX, TMX, ASX 및 Abaxx Exchange에 대한 회원 가입을 포함한 다른 전략적 확장 이후에 이루어졌습니다.
StoneX Financial, une filiale de StoneX Group Inc. (NASDAQ: SNEX), a obtenu le statut de General Clearing Member (GCM) de la part de European Commodity Clearing AG (ECC). Cette réalisation permet à StoneX Financial d'offrir des services étendus aux Non-Clearing Members, y compris des contrats à terme sur l'énergie et le gaz, des contrats au comptant et des enchères de carbone EEX. Le statut de GCM renforce la capacité de l'entreprise à servir des clients sur les marchés de l'énergie, du gaz et du carbone. Ce développement fait suite à d'autres expansions stratégiques en 2024, notamment des adhésions à IIBX, TMX, ASX et Abaxx Exchange.
StoneX Financial, eine Tochtergesellschaft von StoneX Group Inc. (NASDAQ: SNEX), hat den Status des General Clearing Member (GCM) von European Commodity Clearing AG (ECC) erhalten. Diese Errungenschaft ermöglicht es StoneX Financial, erweiterten Service für Non-Clearing Members anzubieten, einschließlich Strom- und Gasfutures, Spotverträgen und EEX-Kohlenstoffauktionen. Der GCM-Status verbessert die Fähigkeit des Unternehmens, Kunden in den Märkten für Strom, Gas und Kohlenstoff zu bedienen. Diese Entwicklung folgt auf andere strategische Erweiterungen im Jahr 2024, darunter Mitgliedschaften bei IIBX, TMX, ASX und Abaxx Exchange.
- Obtained General Clearing Member status with ECC, expanding service capabilities
- Ability to serve broader client base including Non-Clearing Members
- Enhanced product offerings in power, gas, and carbon markets
- Strategic expansion across multiple global exchanges throughout 2024
- None.
Insights
This GCM status achievement significantly strengthens StoneX's competitive position in European energy and commodities markets. The expanded clearing capabilities will enable revenue growth through servicing Non-Clearing Members and offering a broader range of products across power, gas and carbon markets. The strategic expansion pattern throughout 2024, including memberships in IIBX, TMX, ASX and Abaxx Exchange, demonstrates systematic global market penetration.
The ECC membership particularly enhances StoneX's ability to capture market share in Europe's growing energy trading sector. This positions the company to benefit from increased trading volumes in power and carbon markets as Europe transitions to renewable energy. For investors, this represents a meaningful expansion of StoneX's operational capabilities and potential revenue streams in key growth markets.
LONDON, Nov. 27, 2024 (GLOBE NEWSWIRE) -- StoneX Group Inc. (NASDAQ: SNEX); today announced that its wholly owned subsidiary, StoneX Financial Limited (“StoneX Financial”), has been awarded General Clearing Member (GCM) status by European Commodity Clearing AG (“ECC”). This achievement underscores StoneX Financial’s commitment to expanding its capabilities and providing enhanced services to its energy and commodities sector clients.
ECC is the leading clearinghouse specializing in energy and commodity products in Europe, providing clearing and settlement services for exchanges and over-the-counter markets, ensuring financial stability and mitigating counterparty risk in the trading of energy and commodities.
A key benefit for StoneX Financial is the ability to deliver an expanded range of services to a broader client base, including Non-Clearing Members (NCMs). This enhanced product suite includes power and gas futures and spot contracts, EEX carbon auctions, spot and futures products, and broader market coverage across the wider EEX offering. Additionally, it strengthens customer service capabilities for clients navigating power, gas, and carbon markets.
Ramon Martul, Chief Executive at StoneX Europe, commented, “We are delighted StoneX Financial has been awarded GCM status by ECC. Expanding our capabilities provides our clients greater market access, robust solutions, and the tools they need to navigate an evolving energy landscape.”
Brett Phillpott, Head of Exchange Traded Futures and Options at StoneX Financial agreed, adding, “Achieving GCM status with ECC is a proud moment for our team. It unlocks our ability to deliver seamless market access and more robust risk management to our clients.”
Dr. Tobias Paulun, CEO of ECC, remarked, “We are delighted that StoneX is extending its Clearing Membership at ECC. As a General Clearing Member, StoneX is now authorized to clear transactions on behalf of any Non-Clearing Member at ECC, increasing choice for our customers.”
This achievement highlights a year of strategic expansion for the StoneX group. Key milestones include wholly owned subsidiaries attaining membership in the India International Bullion Exchange (IIBX) in October 2024, Approved Participant status on the Montreal Exchange (TMX) in Canada in August, joining the Australian Securities Exchange (ASX) in April, and becoming the first approved clearing and trading member of the Abaxx Exchange and Clearing House in Singapore in January 2024.
About StoneX Group Inc.:
StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders, and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service, and deep expertise. The group strives to be the one trusted partner to its clients, providing its network, products, and services to enable them to pursue trading opportunities, manage market risks, make investments, and improve business performance. A Fortune 100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ: SNEX), StoneX Group Inc. and its 4,300+ employees serve more than 54,000 commercial, institutional, and global payments clients, as well as more than 400,000 retail accounts, from more than 80 offices spread across six continents.
Louis Hogan
louis.hogan@cognitomedia.com
SNEX-G
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