LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
INTL FCStone (NASDAQ: INTL)’s precious metals division has announced that it is launching PMXecute+, an online trading platform connecting consumers and suppliers of physical gold globally. The platform provides seamless real-time access to the global bullion market routing customized bids and offers to the most relevant platform participants, based on inventory availability and preferences, and couples this with fully automated transaction processing.
“PMXecute+ will revolutionize gold trading by delivering entirely new levels of market access, efficiency and convenience to our bullion customers,” says Barry Canham, Global Head of Precious Metals. “This unique ‘one to all’ model leverages INTL FCStone’s leading market position, broad customer base and supplier network and cutting-edge technology to deliver unprecedented global market access — 24 hours a day, seven days a week.”
Customer experience and benefits
PMXecute+ will provide customers with free, direct and real-time access to INTL FCStone’s entire inventory across the world, as well as all product offered through its global network of trusted supply partners. Customers who do not see offers meeting their specific requirements (regarding quantity, specification or location) can use the platform’s Request for Quote function to reach out to all relevant suppliers. All post-trade paperwork is fully automated (confirmations, bar lists, invoices and other essential documentation) and delivered through the platform. INTL FCStone is the counterparty on all trades with customers dealing through their existing accounts and with their existing relationship managers.
Timing and further development
INTL FCStone will begin introducing PMXecute+ to customers and suppliers over the next four to six weeks. The company will continue to enrich the user experience with additional tools and capabilities in future planned releases.
“We developed PMXecute+ to become the physical platform of choice for the global bullion market,” added Canham. “We are simply automating our interaction with our customers — improving market access and efficiency — through one platform, one unparalleled network and one trusted partner.”