LONDON, UNITED KINGDOM--(Marketwired - Oct 24, 2016) - INTL FCStone Inc. (NASDAQ: INTL) today announced that its London-based subsidiary, INTL FCStone Ltd's Global Payments Division ("GPD" or "the Company"), has enhanced its proprietary FXecute global payments technology platform with the addition of streamlined functionality that bridges its clients' foreign exchange and payments services.
FXecute is INTL FCStone Ltd's proprietary global payments platform that provides clients with a one-stop solution for making payments in more than 175 countries. Clients have access to live currency market rates, and can seamlessly execute payments in more than 140 currencies, which includes the world's roughly 90 exotic currencies used in the developing world. This enhanced and customizable solution can easily adapt to the nuances of each client's internal procedure whilst ensuring that they are maintaining proper controls for their international payments. The system also provides integration solutions via GPD's Web Services API which clients can use to retrieve rates and execute trades. Additionally, FXecute now enables clients to make payments using the local ACH system, ensuring seamless and less expensive payments while eliminating execution gridlocks. The Company has onboarded a multitude of its correspondent bank partners in developing countries for ACH functionality in order to provide uninterrupted payment delivery in local currency for those clients sending money to these markets.
Carsten Hils, Global Head of INTL FCStone Ltd's Global Payments Division, commented on today's news, "We are committed to maintaining an open dialogue with our customers and continually improving the services that we offer based directly on their feedback, and the recent enhancements to FXecute directly serve the needs of our major bank clients. Payments technology changes at a rapid pace, and these additions to FXecute ensure that it remains the industry-leading payments execution service for exotic currencies. We have utilized our more than 20 years of experience in providing payments to the developing world, as well as the expertise of our best-in-class information technology team, to provide our customers with an even more efficient, secure, and effective global payments platform."
FXecute allows GPD customers to access the Company's payments capabilities and allows clients to simplify their international funding operations while providing a clear audit trail and analytical reports. The platform provides clients with the intelligence necessary to understand local market conditions, which is critical given that every country has different regulatory requirements that must be met for successful and efficient payments execution. The Company's clients can even process their payrolls through FXecute in local currencies, simplifying their money management processes.
Hils concluded, "FXecute brings efficiency and security to the payments process, and it is unmatched in the scope of markets and currencies that it covers. We are extremely proud to offer clients a comprehensive payments solution via FXecute, and strive to continually improve the platform to ensure that it provides for the needs of an ever-evolving market. We look forward to onboarding additional customers to FXecute, and to implementing even more advanced functionality, over the coming months."
About INTL FCStone Ltd
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone Inc. ("INTL"). IFL is registered in England and Wales (5616586). IFL is authorised & regulated by the Financial Conduct Authority [FRN 446717]. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore. Any individual security mentioned in this presentation is subject to the following disclosure: This information is not meant to be viewed as analysis or opinion of any security. This information should not be taken as an offer or as a solicitation of an offer for the purchase or sale of any security or other financial instruments or as a recommendation to engage in any trading strategy. INTL FCStone Financial Inc. may have long or short positions in securities or related issues mentioned here.
INTL FCStone Inc., through its subsidiaries, is a leading provider of financial-services execution, risk management, market intelligence, and post-trade services across asset classes and markets around the world.
A Fortune 500 company with a nearly 100-year track record, the company focuses on providing products and services within the commodities, securities, foreign exchange and global payments sectors. INTL customers include the producers, processors and end users of virtually every major traded commodity; commercial counter parties; and governmental, nongovernmental and charitable organizations. The company also serves institutional investors, brokers, professional traders, CTA/CPOs, proprietary trading groups, commercial banks and major investment banks. Headquartered in New York City, the company is listed on the Nasdaq under the ticker symbol "INTL".
Further information on INTL FCStone is available at www.intlfcstone.com.