StoneX Advances Global Strategy With Montreal And ASX Memberships

StoneX Group Inc. revealed that its branch, StoneX Financial (Canada) Inc., has been granted Approved Participant status on the Montreal Exchange (TMX). This rank improves StoneX’s financial services network, which now includes more than 40 derivatives exchanges around the world.

StoneX Canada’s Montreal office is expanding its services to include listed fixed-income products on the TMX. This new offering will cater to various global financial clients such as index funds, hedge funds, pension funds, financial institutions, and family offices.

StoneX Seeks To Expand Its Global Footprint In Financial Markets

Clients from the EU, Canada, and the US can now use StoneX’s services to explore intermarket spread opportunities between the TMX and the CME. This includes leveraging StoneX’s execution and clearing expertise in Canadian markets.

The new TMX status comes after StoneX joined the Australian Securities Exchange (ASX) in April 2024, marking a further expansion into the APAC region.

Alex Lacroix, Regional Director of StoneX Montreal, said their new status on the Montreal Exchange, combined with their recent entry into the ASX, is a key step in StoneX’s global growth strategy.”

Alex Lacroix added that the team looks forward to using Montreal’s role as a major derivatives hub to help their institutional clients find new opportunities in the financial markets.

Meanwhile, a StoneX subsidiary, StoneX Financial Ltd, has teamed up with NatWest Group PLC to improve NatWest’s international payments. According to a report, StoneX Payments will provide FX payment services and NatWest with third-party delivery, allowing cross-border transactions in 10 more currencies.

StoneX Aims To Provide Clearer Payment Information For Its Clients

The partnership will leverage StoneX’s network of over 350 correspondent banks and its API-driven platform to enhance payment transparency and foreign exchange rates. NatWest clients will enjoy clearer payment information and expanded access to markets that were previously out of reach.

StoneX Group Inc., formerly known as INTL FCStone, is an American financial services company. It runs a global network that links investors, traders, organizations, and companies to the global market through digital platforms, comprehensive clearing and execution services, and personalized support.

The company has segments for global, retail, institutional, and commercial payments. For its commercial clients, it provides a range of services and products, including hedging and risk management. It also allows the execution and clearing of both over-the-counter products and exchange-traded.

For institutional clients, the firm offers equity trading services to help find liquidity and provides prime brokerage for equities and many foreign currency pairs and swaps. Retail clients worldwide have access to over 18,000 global financial markets.