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INTL FCStone Inc. Announces Significant Increase in Brazil Payments after Regulatory Upgrade

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INTL FCStone Inc. Announces Significant Increase in Brazil Payments after Regulatory Upgrade

PR Newswire

NEW YORK and LONDON, July 24, 2018 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ:INTL) today announced that its London-based subsidiary, INTL FCStone Ltd.'s Global Payments Division ("the Company"), has experienced a significant increase in Brazilian payments in only its first three months of operations after upgrading its local regulatory presence to an  FX Bank license in Brazil in April 2018.  At the Company's current run rate, the operation in Brazil would process more than $1 billion in payments per year. 

INTL FCStone Inc. (PRNewsfoto/INTL FCStone Inc.)

Carsten Hils, Global Head of INTL FCStone's Global Payments Division, commented on today's news, "We have significantly enhanced our regulatory capability in Brazil, which has led to an immediate 3-fold increase in payments to this key market. INTL FCStone is one of the few foreign companies with this regulatory status and now have a dedicated team on the ground to provide our local and international clients with efficient payments.  We have only scratched the surface of our capabilities in the region and believe the market opportunity in Brazil for our platform to be substantial."  

INTL FCStone Ltd's Global Payments Division facilitates payments in local currency in more than 140 currencies and more than 175 countries.  The Company maintains an extensive network of approximately 300 local correspondent banking relationships worldwide and leverages these trusted relationships to ensure efficient and secure cross-border payments in many countries where transparency is otherwise limited. The Company offers payments solutions to global financial institutions including eight of the top ten in the Euromoney 2017 survey of FX Market Share, in addition to international aid and development organizations, non-governmental organizations, and multinational corporations

Hils concluded, "We have shown in just a few short months what we can accomplish in terms of providing an unmatched level of transparency to the payments process and greater access to the Brazilian market.  Our platform ultimately allows our customers to control pricing and avoid the pitfalls associated with sending hard currency to be converted in local markets.  Over time, we will be engaging our existing, substantial Brazilian client base and may look to add additional FX products."

About INTL FCStone Ltd
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone Inc. ("INTL"). IFL is registered in England and Wales (5616586). IFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 [FRN 446717] for the provision of payment services. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore.

INTL FCStone 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.

A Fortune 500 company with a nearly 100-year track record, the company focuses on providing products and services within the commodities, securities, foreign exchange and global payments sectors. INTL customers include the producers, processors and end users of virtually every major traded commodity; commercial counter parties; and governmental, nongovernmental and charitable organizations. The company also serves institutional investors, brokers, professional traders, CTA/CPOs, proprietary trading groups, commercial banks and major investment banks. The company is listed on the Nasdaq under the ticker symbol "INTL."

Further information on INTL FCStone is available at www.intlfcstone.com.

Media Contact
Jay A. Morakis
M Group Strategic Communications (for INTL FCStone)
+1 646 417 8514
jmorakis@mgroupsc.com

INTL-G

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SOURCE INTL FCStone Inc.

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