INTL FCStone rebrands and expands its relationships with Eventus in the EMEA region

Financial services provider INTL FCStone Inc. announced that the rebranding of the company to StoneX Group Inc. was approved in a majority vote at the company’s shareholder meeting. The company will trade under the symbol SNEX, effective 6 July.

Sean O’Connor, CEO, commented:

Sean O'Connor, StoneX
Sean O’Connor

Our firm has experienced transformational growth in recent years – in terms of the breadth and depth of our offering, our technology platforms and our global client base. This re-brand will help us better define and communicate our strategic focus on driving innovation and digitalization in the global markets going forward.

INTL FCStone announced its filling to the US Securities and Exchange Commission regarding the rebranding to StoneX earlier in May 2020.

O’Connor added:

Our transition to the StoneX brand signals an exciting new phase for our company and our clients. We owe all of our success to our clients, and we will continue to put them at the center of everything we do as we pursue our goal of becoming recognized as a best in class financial services franchise.

Global trade surveillance and risk management software provider, Eventus Systems, Inc. announced that its partnership with INTL FCStone’s London-based subsidiary INTL FCStone Inc was expanding. INTL FCStone will deploy the firm’s Validus platform for market surveillance activities throughout the Europe, Middle East and Africa (EMEA) region.

The companies’ partnership agreement builds on last year’s adoption of the platform for futures market surveillance by the company’s US-based FCM subsidiary and expands geographically, as well as across multiple product types and asset classes, including futures, equities and fixed income.

The new implementation will be active in a few weeks and will leverage the cloud-based version of Validus on a T+1 basis, replacing the current outsourced system used by the London subsidiary.

HedgeTrade and Bluzelle team up for decentralized data framework Blockchain-driven social trading platform HedgeTrade announced partnering with decentralized data network Bluzelle to acquire access to its decentralized solution for storing, managing and analyzing data. In addition to managing data generated from HedgeTrade’s trading platform, Bluzelle’s network will also make sure HedgeTrade’s database has scalability, security and has maximum uptime. With the growth of cryptocurrency trading platforms, they also generate the need to provide specific data tools. The platforms must also maintain a secure basis for blockchain and trade-related data. This is for security, as well as for analytics and gaining insight for better user experience. NoSQL databases provide this capacity for platforms such as HedgeTrade so that they can offer good trading experience. CEO and Co-Founder of HedgeTrade, David Waslen commented: “HedgeTrade is the first social trading platform where the interests of both professional traders and novices are aligned. All users have a method of hedging risk, a way to maximize profitability, and a trusted source of blockchain-verified trading information. With Bluzelle’s decentralized data storage, we’ll be able to provide our users with data security only achieved through decentralization, as well as a blockchain compatible database that is in step with our fast evolving crypto platform.” Pavel Bains, CEO and Co-Founder of Bluzelle said: “Our decentralized database solution is perfectly suited to support growing crypto platforms. With our globally distributed nodes that allow for mass scalability and a data network that connects to multiple blockchains, Bluzelle offers companies like HedgeTrade a decentralized data solution that goes beyond the internet as we know it. With Cloudflare recently down resulting in mass internet outages, it’s even more evident that decentralized solutions like Bluzelle represent the future of data security.”

Alexander Culley, Chief Compliance Officer, EMEAA  (Europe, the Middle East, Africa and Asia) for INTL FCStone Ltd., said:

Our colleagues in the U.S. have been extremely pleased with the ability to customize alerts as well as the performance and flexibility of the Validus platform – not only as it relates to U.S. trading venues but also in the European markets traded by U.S. clients. That was important for us, as the markets here that are a major portion of our business have their own unique character and culture. For instance, the fact that Validus works well with the unusual date structure of the London Metal Exchange (LME) was a big selling point for us. We only began discussions in the past seven to nine weeks but are already planning to go live in July so implementation has been very quick out of the blocks. Eventus has worked closely with us to reduce our costs and offer us much more flexibility while ensuring a more robust capability on each of the many markets in which we operate.

Eventus CEO Travis Schwab commented:

Travis Schwab

It’s particularly gratifying that INTL FCStone has chosen to expand significantly on our relationship after seeing the benefits of Validus first-hand over the course of the past year. This is a proven platform within the organization in reducing false positive alerts, enabling compliance staff to make better use of their time and achieving tangible cost efficiencies. We’ve worked diligently to ensure we cover the markets European firms need, as well as successfully address the unique regulatory requirements and exchange rules in the region.

Eventus established its presence in Europe this year with the appointment of staff in London to support its clients locally and grow its business there. The company surveils activity for clients on over 100 exchanges and trading venues globally.

The Validus platform applies machine learning in concert with a procedural approach to reduce false positive alerts while it also ensures firms have the necessary data to respond quickly and comprehensively to regulatory inquiries.

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INTL FCStone rebrands and expands its relationships with Eventus in the EMEA region

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