INTL Fcstone Inc (NASDAQ:INTL), provider of specialized financial services in commodities, securities, global payments, foreign exchange and other markets, today announced that its London-based subsidiary, INTL FCStone Ltd.’s (IFL) Global Payments division, was selected by Bank of America Merrill Lynch to provide international payments coverage and third-party delivery services in more than 70 exotic currencies via its network of over 300 correspondent banks across the globe.
“We are constantly looking for ways to improve efficiencies for our customers. This agreement provides them with an integrated platform that streamlines the payments process in emerging market currencies and capitalizes on IFL’s well-recognized expertise in these markets.”
Gregory Vincent, Head of FX Payments (EMEA), said:
“IFL is a dedicated specialist helping to set best-practice standards for the industry. We’re thrilled to partner with Bank of America Merrill Lynch to enhance the value to customers by providing access to emerging market currencies and a platform for efficient execution of payments.”