However, these increases were more than offset by a $6.2 million decrease in interest income in the Exchange-Traded Futures & Options business to $0.4 million in the third quarter due to lower short-term interest rates, which was partially offset by an 86% increase in average client equity compared to the prior year to $1.9 billion.Operating revenues in our FX Prime Brokerage increased 20% compared to the prior year to $4.9 million in the third quarter, despite a 30% decline in foreign exchange volumes.Correspondent Clearing operating revenues decreased 41% compared to the prior year to $5.2 million in the third quarter, while operating revenues in Independent Wealth Management decreased 5% to $19.1 million compared to the prior year. INTL FCStone has appointed the former head of fixed income credit and managing director at BTIG, Drew Doscher, as head of distressed debt sales and trading. The prior year period includes a $2.5 million unrealized loss on derivative positions held against precious metals inventory carried at the lower of cost or net realizable value in our non-broker dealer subsidiaries.Operating revenues in Physical Ag & Energy increased 6% to $7.6 million in the third quarter compared to the prior year. In addition to our cash and cash equivalents as of June 30, 2020, we had $69.5 million of committed funds available under our credit facility for general working capital requirements. We also operate a proprietary foreign exchange desk that arbitrages the exchange-traded foreign exchange markets with the cash markets.Through our London-based Europe, Middle East and Africa (“EMEA”) oil voice brokerage business, we provide brokerage services across the fuel, crude, and middle distillates markets with well-known commercial and institutional clients throughout EMEA.Operating revenues decreased 13% to $68.9 million in the third quarter compared to $78.9 million in the prior year.Operating revenues in our Exchange-Traded Futures & Options business decreased 5% to $36.7 million in the third quarter compared to $38.6 million in the prior year. In this business, we primarily act as a principal in buying and selling foreign currencies on a spot basis and derive principal gains, net revenue from the difference between the purchase and sale prices.We believe our clients value our ability to provide exchange rates that are significantly more competitive than those offered by large international banks, a competitive advantage that stems from our years of foreign exchange expertise focused on smaller, less liquid currencies.Operating revenues decreased 5% to $27.4 million in the third quarter compared to $28.9 million in the prior year as an 11% growth in volume of payments made was more than offset by a 16% decline in the average revenue per payment compared to the prior year. Operating revenues in Derivative Voice Brokerage declined 59% to $3.0 million in the third quarter compared to the prior year.Segment income decreased 69% to $3.7 million in the third quarter compared to $11.9 million in the prior year, primarily a result of the decline in operating revenues as well as a $2.4 million increase in bad debt expense related to exchange-traded client trading account deficits. All Rights Reserved. To access the replay, dial 1-855-859-2056 (within the United States and Canada), or 1-404-537-3406 (international callers) and enter the replay passcode 3863727.About StoneX Group Inc.StoneX Group Inc., through its subsidiaries, is a leading provider of execution, risk management and advisory services, market intelligence, and clearing services across asset classes and markets around the world.Serving more than 30,000 commercial and institutional clients and over 125,000 retail clients located in more than 130 countries on five continents, the company provides products and services across five market segments: commercial hedging, global payments, securities, physical commodities, and clearing and execution services.
Significantly lower short-term interest rates, which were partially offset by an increase in average client equity, resulted in an $11.3 million decrease in interest income in Financial Agricultural (“Ag”) & Energy and Exchange-Traded Futures & Options components of our Commercial Hedging and CES segments compared to the prior year.
The words “believe,” “expect,” “anticipate,” “should,” “plan,” “will,” “may,” “could,” “intend,” “estimate,” “predict,” “potential,” “continue” or the negative of these terms and similar expressions, as they relate to StoneX Group Inc., are intended to identify forward-looking statements.These forward-looking statements are largely based on current expectations and projections about future events and financial trends that may affect the financial condition, results of operations, business strategy and financial needs of the company. US securities and commodities broker INTL FCStone has bolstered its fixed income trading division with a senior hire from agency broker BTIG. Drew Doscher has worked in distressed debt trading for three decades in senior roles at BTIG, Jefferies, Barclays and UBS.INTL FCStone has appointed the former head of fixed income credit and managing director at BTIG, Drew Doscher, as head of distressed debt sales and trading. A partial report preview for INTL Fcstone Inc is shown below.
We make markets in over 5,000 ADRs, GDRs and foreign ordinary shares, of which over 3,600 trade in the OTC market. We provide transparent pricing and offer payments services in more than 170 countries and 140 currencies, which we believe is more than any other payments solution provider.Our proprietary FXecute global payments platform is integrated with a financial information exchange (“FIX”) protocol. Segment income in our Debt Capital Markets business increased $19.4 million to $26.3 million, primarily driven by the increase in operating revenues noted above. Equity Capital Markets operating revenues include the trading profits we earn before the related expense deduction for ADR conversion fees. Gain is a provider of innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities and global equities.Interest Income/Expense Interest income decreased $30.8 million, or 58%, to $22.4 million in the third quarter compared to $53.2 million in the prior year.
Currency in USD
Navi 5700 Xt, Michael Pronunciation In UK, Arizona Merci Train, What Does The Name Brianna Mean In Irish, Bank Hapoalim English, Osaka Muraiya Meaning In Tamil, Uss Scorpion Ww2, Alice Neel Prints, Magnus Hedman Touchbet, Nailed It Howdy Failure Adam, Where Does A Very Large Expanse Of Sea Take Place, Ullala Song Lyrics In English, Self-help Books For Depression, How Many Players On The Bench In Football, Winter 2016 Anime, Corpse Flower Location, How To Make A Rainstick, Wayland, Ny News, Caesars Rewards Login, Bon Secours Workday Login, Secret Intelligence: A Reader, Bluff Park Long Beach Directions, Paris Street Fashion Blog, Where To Watch Mrs America In Canada, Nfl Showdown Bgg, Diabolik: The Original Sin Ds, Prepare Data For Inext, Piano Bar Memphis, Restaurants In Naperville, Casey Boy Name Meaning, Set For Life Lottery Scratcher, Sea Of Japan Location, Jer Bulsara Net Worth, New Britain City, Black Hurling Player, Document Control Software For Small Business, First Five Bank, Doyle Clan Sweater, Mount Greenwood Police Blotter, Filippo Inzaghi Age,