INTL FCStone CASE STUDY: Outperform your competition
“Most importantly we wanted a solution that would give us access to the best liquidity from a vendor we could trust. We found that with Integral.”
INTL FCStone, Inc. is a Fortune 500 company employing a team of 1,600 people, serving more than 20,000 customers in 130 countries. The company provides customers with a full-service trading capability, and they are a major player in the global physical precious metals markets.
As the industry moved away from using voice trading to hedge risk, INTL FCStone Ltd., Precious Metals needed to find a solution suitable for their precious metal client base, predominately physical gold traders, which would allow them to grow and develop the business. Their past solution offered a single price feed into their trading platform resulting in limited liquidity and lack of flexibility to respond to client pricing needs.
Requirements of new solution:
Robust platform, able to handle the high volumes while pricing competitively and managing risk
A scalable solution with the flexibility to support their growing business and still deliver the highest level of customer satisfaction
Greater access to liquidity for optimal client service
Managed costs and development
Integral set up INTL FCStone Ltd., Precious Metals with BankFX, a world class integrated eFX solution that offers the most complete set of functionality on the market. As a cloud-based platform, BankFX enabled INTL FCStone Ltd, Precious Metals to design and deliver a bespoke solution that supported their demands to serve their existing customers and add new business.
The solution includes:
Optimal Price Distribution BankFX provided INTL FCStone Ltd., Precious Metals with a richly featured price engine, giving them the capability to distribute prices both internally and externally
Industry Leading Pricing Direct bank liquidity and unique sources
Risk Management Implementation of Yield Manager, Integral’s complete risk management system which automates, manages and monitors the risk and yield of the most complex FX businesses
Cloud Hosted Solution Zero data and hardware costs and ultra-low latency connection to a variety of providers and services
Post Trade STP
“Using BankFX our trading teams are able to handle a very large trading volume with minimal headcount and virtually no risk of human error.”
BankFX Supports 100% Growth of INTL FCStone Ltd., Precious Metals Business
INTL FCStone Ltd., Precious Metals has used BankFX for over a year. Integral has worked in close collaboration with them to provide the best solution as their business evolves and grows.
The results have been positive:
Over the last 18 months INTL FCStone Ltd., Precious Metals have doubled their business. The implementation of BankFX has aided that growth
Increased access to multiple source liquidity has enabled INTL FCStone Ltd., Precious Metals to manage customer hedging needs even in subdued physical markets
Provided a full-service solution for all trading needs in addition to precious metals
Managed very large trading volumes with minimal overheads and best execution
Enabled Yield Manager allowing INTL FCStone Ltd., Precious Metals to manage smaller trades that otherwise would not be viable for even greater return and operational efficiency