StoneX has completed its acquisition of futures brokerage and clearing firm R J O’Brien, making it the latest non-bank futures commission merchant (FCM) in the US.
RJO reported US$766 million in revenue for full-year 2024.
StoneX states that this acquisition, first announced in April, will allow it to cross-sell in OTC derivatives, physical commodity trading and fixed income products.
READ MORE: StoneX builds out FCM presence with RJO acquisition
The company expects to see US$50 million in increased revenues from the acquisition, increasing its client float by close to US$6 billion.
Philip Smith, StoneX CEO, commented, “This transaction significantly expands our scale and increases our capabilities in several critical areas, including through a materially expanded client network and the addition of the leading introducing broker business.
“The combination of the companies’ leading technologies and tools, such as in OTC hedging, risk management, and trading execution and liquidity across multiple asset classes, will deliver clients important benefits.”
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