01 August 2014

INTL FCStone subsidiaries select TwoFour FX Back Office

18 June 2014  |  576 views  |  0 Source: TwoFour

TwoFour, a specialist provider of global real-time foreign exchange ("FX") and cash management software for the financial services industry, today announced that two of INTL FCStone Inc.'s subsidiaries, INTL FCStone Markets Inc. and INTL FCStone Ltd, have licensed TwoFour's FX Back Office for its FX Prime Brokerage group.

This implementation marks another significant expansion of the use of TwoFour within the rapidly growing INTL FCStone Inc. ("INTL FCStone") organization. With the addition of this group, INTL FCStone now uses TwoFour FX front-to-back across the enterprise.  The group's usage of TwoFour includes margin processing, limit monitoring, and TwoFour's HTML 5-based client web portal.  Users are based globally.  INTL FCStone and its predecessors have been providing FX Prime Brokerage to professional clients since 2005.

As INTL FCStone expands its global footprint, it has acquired multiple FX businesses and systems to support the growing business.  INTL FCStone aimed to consolidate the different FX businesses on to a single platform.. To support the project, INTL FCStone looked to TwoFour for a number of reasons. TwoFour is an existing product vendor for INTL FCStone and has proven its systems and project management capabilities through a variety of product implementations and subsequent enhancement projects.  In addition, TwoFour solves a tactical technology need by offering a full  Front, Middle and Back Office solution.

TwoFour's solution met INTL FCStone's fundamental requirements for a successful back office solution including trade processing and management, settlement, and reporting capabilities.  TwoFour also provides INTL FCStone the ability to actively manage and compute margin requirements, credit, margin fee threshold, gross margining and market risk associated with any position or group of positions within the system.  TwoFour's monitoring functionality provides an auto notification system that allows risk executives to assign contacts and an escalation process for any breach in any risk limit.  TwoFour also provides a secure web-based portal where customers can view their account status, open trade lists, open positions in real-time, and access current and historical account statements.  The solution supports INTL FCStone's multiple and differing business lines within distinct regulatory and reporting environments in the United Kingdom and United States.

"Over the years, INTL FCStone has expanded its usage of TwoFour based on TwoFour's consistent delivery of reliable, high performance FX solutions, its tailored, attentive, high quality customer support and an ongoing track record of delivering successful projects that exceed expectations on time," said Edgar Ramon, Global Head of FX of INTL FCStone Markets Inc.

"TwoFour FX is a simple elegant design that can scale to support complex global trading operations," said Chris Davis, cofounder of TwoFour. "In the years that TwoFour has been in production with INTL, our technology has proven flexible and able to adapt to changing needs, and we are thrilled to provide business solutions to INTL as they continue to evolve and expand."

INTL FCStone and its predecessors have been clients of TwoFour's since May of 2008, when the FX position keeping component of TwoFour's solution was licensed and deployed in Chicago to manage FX and FX Futures.  In subsequent years, INTL FCStone has expanded its usage of TwoFour to its FX Prime Brokerage business.  In 2011, INTL FCStone continued to develop their relationship with TwoFour by expanding usage of TwoFour FX to its London and New York offices in support of their  Global Payments and Precious Metals trading businesses.

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