StoneX Group Expands In Europe With Octo Finances Acquisition

StoneX Group has completed the acquisition of Octo Finances, a fixed-income brokerage based in Paris. The company said the deal will help it expand its services in Europe, allowing it to offer more in bond and convertible sales, debt capital markets, and credit research. The move strengthens StoneX’s fixed-income division and helps it serve more institutional clients.

Octo Finances started operation in 1991, and focuses on bond trading and credit research. The company noted that adding Octo Finances to its business will improve its ability to provide fixed-income solutions to clients.

StoneX Group Welcomes Octo Finances To Strengthen Fixed-Income Services

The Global Head of Fixed income at StoneX, said the firm is happy to welcome octo finances. He further said the agreement brings new abilities and the firms are already proposing their future together. Also, he shared that the business is sure to increase in strength with the recent addition in Europe.

StoneX Group operates a global financial services network, offering trading, risk management services and execution. The company explained that merging with Octo Finances will allow it to provide a larger range of services to its clients across Europe.

In a separate move, StoneX Group also announced that its digital asset division had secured a license from the Central Bank of Ireland. The company said this approval allows StoneX Digital International to operate as a virtual asset service provider in Ireland.

StoneX Digital Gains Approval To Operate As A Virtual Asset Business

This new license shows that StoneX Digital International is free to offer digital asset services to institutional clients in a regulated manner. The company stated that expanding into new and growing markets, is one goal this move has strengthened.

Brian Mulcahy, CEO of StoneX Digital, noted that securing the license highlights the company’s commitment to providing safe and reliable digital asset services. He added that this approval will help meet the increasing demand for institutional-grade digital asset solutions.

Meanwhile, StoneX Group has also made changes in its leadership team. Philip Smith took over as Group Chief Executive Officer towards the end of last year. The company stated that Smith replaced Sean O’Connor, who moved to the role of Executive Vice-Chairman after 22 years as CEO.

StoneX Group further revealed that Charles Lyon, who formerly led its Institutional business segment, was named Group President. The company stated that these leadership changes were made to help the firm grow and expand its operations globally.

StoneX Group has put up extra work to develop its business in Europe, first it acquired Octo Finances and secured a digital asset license. The firm said these improvements will enable it to empower its presence in the financial world while continuing to provide cleanse with more upgraded services.