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INTL FCStone to buy outsourced trading firm Fillmore Advisors

Source: INTL FCStone

INTL FCStone Inc. (NASDAQ: INTL) today announced that it has executed a sale and purchase agreement to acquire outsourced trading firm Fillmore Advisors. This news follows-on from the announcement that INTL launched a Prime Brokerage division in April of this year – with Fillmore Advisors now becoming an extension of that offering. This transaction, which is subject to regulatory approval, is effective on closing.

Fillmore Advisors is an independent firm and a leading provider of outsourced trading solutions and operational consulting to institutional asset managers. The firm, headquartered in Park City, Utah, is composed of traders with deep global expertise encompassing both buy-side and sell-side experience. Institutional clients will benefit from Fillmore Advisors’ comprehensive product coverage offering for equities, equity-linked, FX, credit, rates, and commodities.

Michael DeJarnette, Managing Director and Co-Head, Prime Brokerage, commented on today’s news “We're thrilled to add the Fillmore Advisors team to our prime brokerage division. Outsourced trading is a rapidly growing segment of prime brokerage services, and the acquisition represents a tremendous opportunity to add a fast-growing leader in outsourced trading solutions as we continue to grow our division. This acquisition is an example of our strong commitment to continued innovation as we look to offer specialized services for hedge funds both domestically and abroad.”

INTL FCStone’s prime brokerage division offers multi-asset prime brokerage, execution, outsourced trading, custody, self-clearing, and introduced clearing services for hedge funds, mutual funds, and family offices. The division provides a flexible platform to more effectively execute trades, custody, and clearing for U.S. and global equities, options, futures, foreign exchange (FX), and fixed income through INTL FCStone.

Andrew Caplan, Partner and CEO, Fillmore Advisors, concluded, “The Fillmore team is excited to join INTL FCStone and extend their global reach and best-in-class Prime Services platform to our client base. We will continue to partner with our existing clients and look forward to working with INTL’s management team to assist in the division’s continued growth and success in outsourced trading.”
 

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