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StoneX Group Inc. announced the completion of its acquisition of Octo Finances, a Paris-based brokerage specializing in fixed-income services. This move is part of StoneX’s strategy to enhance its European presence and expand its offerings in bond and convertible sales, debt capital markets, and credit research. The acquisition is expected to strengthen the company’s fixed-income division by integrating Octo Finances’ expertise in bond trading and credit research.
Founded in 1991, Octo Finances has been focused on delivering fixed-income solutions to institutional clients. The addition of Octo Finances is poised to bolster StoneX’s capabilities in this area. Anthony Di Ciollo, Global Head of Fixed Income at StoneX, expressed his enthusiasm about the acquisition, stating, "We’re thrilled to officially welcome Octo Finances to StoneX Group and believe the company will provide us with significant new capabilities. Our joint planning is well underway, and we are excited by the opportunities for growth for the combined business in Europe.”
StoneX, which operates a global network offering trading, execution, and risk management services, is now set to integrate Octo Finances’ services into its portfolio, aiming to provide a more comprehensive suite of services to its clients in Europe.
According to Finance Magantes, StoneX Group has further solidified its European operations through its digital asset division, StoneX Digital International, which has secured a license from Ireland’s central bank as a virtual asset service provider (VASP). This approval allows StoneX to operate a digital asset business and offer services to institutional clients in the region. Brian Mulcahy, CEO of StoneX Digital, commented on the license, saying, "StoneX Digital International Limited’s new status as a VASP underscores our dedication to supporting our global client base with secure, compliant, and reliable solutions in the rapidly changing digital asset landscape. This approval continues the expansion of our services into evolving markets and helps meet the growing demand for institutional-grade digital asset capabilities.”
Additionally, StoneX Group has undergone leadership changes, with Philip Smith taking the helm as Group Chief Executive Officer, succeeding Sean O’Connor. Smith, who has a background leading the Commercial and Payments segments, is expected to steer the entire firm. Charles Lyon, previously head of the Institutional business segment, has been appointed Group President. These changes are indicative of StoneX’s commitment to growth and adaptation in the dynamic financial services industry.
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