StoneX enhances Institutional Prime offering with multi-asset CASS custody solution and more

Rick Steves

“The build out of StoneX Institutional Prime is a natural complement to our existing U.S. offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally.”

StoneX Group has launched a multi-asset CASS custody solution, which complies with the FCA’s Client Asset Sourcebook (CASS) to ensure that client assets are safeguarded in the event of a firm’s insolvency.

Additionally, the London-based Institutional Prime product has been enhanced with new financing capabilities, including repo financing and securities lending.

Institutional Prime offers execution, custody, financing, hedging via FXPB and Futures Clearing

StoneX’s Institutional Prime group supports mid-tier hedge funds through a multi-asset and end-to-end securities service that includes execution, custody, financing, as well as position and currency hedging through StoneX FXPB and Futures Clearing product offerings.

Besides the upgraded Institutional Prime offering, StoneX has decided to further expand the institutional team with the hiring of Gary Clifford-Newman (Cross Asset Sales) and James Barten (Head of EMEA Security Financing) to bolster growth and capabilities within Prime Services in London.

In October 2022, Andrew Sterry joined StoneX to head the newly created group StoneX Institutional Prime, which is part of the wider Securities group led by James McAuslan, Global Head of Prime Services and Head of Securities for EMEA.

CASS custody solution, repo financing, securities lending

The enhanced StoneX suite of Institutional Prime services includes:

· Fully CASS Segregated Clearing and Custody

· Equities execution across 68 markets globally

· Global fixed Income execution

· Portfolio SWAP Financing – Equities

· Portfolio Repo Financing and Securities Lending – Equities and Fixed Income

· Capital Introduction services

· Full Outsourced Trading solutions

· FX hedging and trading

· Futures and Options hedging and trading

James McAuslan, Global Head of Prime Services and Head of Securities for EMEA at StoneX Group, commented: “The build out of StoneX Institutional Prime is a natural complement to our existing U.S. offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally. The product expansion and appointments continue the significant investment in our technology platforms across trading, regulatory reporting, middle & back office to support sizeable growth in client business within our securities and Prime offering.”

Andrew Sterry, Head of Institutional Prime at StoneX, commented: “StoneX’s Institutional Prime business is well positioned to cater for the needs of hedge fund managers as they undertake a selection process for Prime providers. With a partnership approach and a modular product offering, StoneX Institutional Prime can support hedge fund managers throughout their securities trade cycle.”

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