INTL FCStone Ltd's Global Payments Division Joins the SWIFT Global Payments Innovation Initiative
Company leads the way for non-bank participation in SWIFT gpi
LONDON, June 7, 2017 /PRNewswire/ -- INTL FCStone Inc. (NASDAQ: INTL) today announced that its London-based subsidiary, INTL FCStone Ltd's Global Payments Division ("GPD" or "the Company") has joined the SWIFT global payments innovation (gpi) initiative.
SWIFT gpi is a partnership of more than 110 leading global banks, which bring together their unique expertise in an effort to solve those issues currently impacting global payments, and to promote innovation for cross-border transactions. The initiative's mission is to transform the international payments landscape as new technologies emerge, and thereby to facilitate the acceleration of global trade.
Carsten Hils, Global Head of INTL FCStone Ltd's Global Payments Division, commented on today's news, "We are honored to help pave the way for the non-bank community to participate in SWIFT gpi, and plan to utilize our unique expertise to promote greater speed, transparency, and predictability for cross-border payments. SWIFT has taken a leadership position in enhancing cross-border transactions and bringing together over 110 leading global banks, in order to improve business operations and supplier relationships, and achieve greater treasury efficiencies."
INTL FCStone Ltd's Global Payments Division has joined as a non-bank gpi participant due to its specialization in transferring funds in local currency to the developing world on behalf of many of the world's leading banks. GPD offers cross-border 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.
Steve Gilderdale, Head of UK, Ireland and Nordics at SWIFT, concluded, "We are pleased to welcome INTL FCStone Ltd to SWIFT gpi. As one of the first non-bank participants, INTL FCStone is paving the way for others, helping to further extend our reach across additional payment channels. I would like to thank them for their participation and for the added value they will bring to the initiative."
INTL FCStone Ltd's Global Payments Division allows clients to execute payments in more than 175 countries and 140 currencies through its global network of approximately 300 correspondent banks, and leverages this network to provide industry-leading intelligence on local market conditions that critically impact international payments and foreign exchange. GPD team members regularly liaise with global government and regulatory bodies, as well as other decision makers and market participants, to source proprietary intelligence that provides clients with unique insights into local market conditions.
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 [FRN 446717]. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore. Any individual security mentioned in this presentation is subject to the following disclosure: This information is not meant to be viewed as analysis or opinion of any security. This information should not be taken as an offer or as a solicitation of an offer for the purchase or sale of any security or other financial instruments or as a recommendation to engage in any trading strategy. INTL FCStone Financial Inc. may have long or short positions in securities or related issues mentioned here.
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.
Serving more than 20,000 customers in 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. Our customers include the producers, processors and end users of virtually every major traded commodity, as well as asset managers, introducing broker-dealers, insurance companies, brokers, institutional and retail investors, commercial and investment banks, and governmental, non-governmental and charitable organizations. A Fortune 500 company headquartered in New York City, the company is listed on the Nasdaq under the ticker symbol "INTL".
Further information on INTL is available at www.intlfcstone.com.
Media Contact
Jay A. Morakis
M Group Strategic Communications (for INTL FCStone Ltd)
+1 212 266 0191
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