INTL FCStone Pte. Ltd. is joining the Singapore Exchange (SGX) in the form of a Trading and Clearing Member, according to a Friday announcement made by the platform. The former is a subsidiary of INTL FCStone Inc.
The Singapore Exchange will be able to broaden its international distribution connections, especially in the North American area, by accepting INTL FCStone Pte. Ltd. as its newest member. The latter is a Fortune 500 firm that offers several brokerage and financial services to a large customer base.
INTL FCStone Pte. Ltd. has its headquarters in New York City and is known around the industry for offering trading services across a myriad of assets classes. It has a brokerage that has settled in quite nicely in the forex industry, which aligns perfectly with the SGX’s intentions of expanding the FX field in the Asian country.
Strengthening Its North American Network
One of SGX’s authorities, Chew Sutat, commented on how ecstatic the SGX is about announcing the new addition of INTL FCStone as a partner that will help the exchange consolidate its presence in the derivatives trading field. The Head of Global Sales and Origination at SGX said that the platform is looking to strengthen its North American network.
According to Sutat, INTL FCStone is one of the primary actors in the industry, with several assets classes and services offered, including currencies and even commodities. He also detailed how the alliance will help the American company in obtaining support as they use Singapore as a platform to achieve expansion in the Asian market.
62 Trading Members And 25 Clearing Members
The fact that INTL FCStone is joining the Singapore Exchange means that the latter is now associated with a total of 62 Trading Members and 25 Clearing Members on the derivatives platform, to form one of the biggest and most influential networks in the Asian area.
There were also comments from the US-based firm, as Greg Kallinikos, who is currently the Chief Executive Officer at INTL FCStone Pte. Ltd. and also the Deputy CEO in the Asia region for INTL FCStone group, said he was excited to be joining the Singapore Exchange as a Clearing and Trading member.
Kallinikos observed that after the company upgraded its regulatory license for offering capital market services in the Asian nation, it is now set to provide its ever-increasing clientele with access to a fast-paced platform in ngapngsia, in the context of its 20th birthday.