INTL FCStone Inc. (NASDAQ: INTL) just announced that the Broker-Dealer Rates Group of its wholly owned subsidiary, INTL FCStone Financial Inc., has entered the U.S. agency commercial mortgage-backed (Agency CMBS) market. The Company also disclosed today that it has expanded its asset-back securities (ABS) trading to all investment grade categories.
The launch of the Agency CMBS offering further enhances INTL FCStone Financial’s trading services for mortgage products, which the Company recently bolstered through the establishment of its Securitized Product Group. The new Agency CMBS capabilities complement INTL FCStone Financial’s existing specialization in agency mortgage-backed securities, collateralized mortgage obligations, and commercial mortgage-backed securities trading.
Anthony Di Ciollo, Senior Managing Director, Head of Securitized Trading at the Broker-Dealer Rates Group of INTL FCStone Financial Inc., commented on today’s news:
We are proud to now provide our institutional clients with agency commercial mortgage-backed securities trading services. The launch of our Agency CMBS offering furthers our initiative to provide insight, execution efficiency and liquidity to the underserved Mortgage market. We believe our narrow focus and deep expertise creates significant value, and we look forward to tailoring our Agency CMBS services to the unique needs of our client base.
INTL FCStone Financial Inc.’s Rates Group is a fixed income dealer and market maker that exclusively trades government, federal agency, mortgage-backed, agency commercial mortgage-backed, and asset-backed securities. Founded as G.X. Clarke & Company in 1979 and acquired by INTL FCStone in January 2015, the Rates Group has served institutional clients focused on these securities for almost four decades. Acting as principal, the Rates Group maintains an inventory of more than 5,000 CUSIPS, which is built upon providing liquidity and market insight to more than 600 institutional clients. The Rates Group employs a client-centric business model, and the securities that it trades are based directly on the strategies and trading parameters of its clients.