Financial services provider StoneX Group Inc., formerly known as INTL FCStone, announced the finalization of the announced in February acquisition of online retail FX trading services provider Gain Capital Holdings, Inc.
Gain provides retail and institutional investors around the world with trading technology and execution services with multiple access points to OTC markets and global exchanges across a wide range of asset classes such as foreign exchange, commodities and global equities.
The shareholders of Gain Capital voted last month the approval of acquisition for $6.00 per share in all-cash transaction, amounting to approximately $236 million in equity value.
Glenn Stevens, CEO of GAIN, commented on the transaction:
As a result of this combination, GAIN’s customers will benefit from a richer product offering, as well as the expanded resources and greater scale of the combined firm. StoneX, in turn, will add a new digital platform to its global financial network, significantly expanding its offering to retail clients, as well as a complementary futures business. We look forward to a bright future as part of the StoneX Group.
Sean O’Connor, CEO of StoneX, added:
This is the beginning of an exciting new era for our company as we add two of the largest and best known retail financial-services trading brands in the world to our global financial services network, in the process more than doubling the number of active retail accounts we serve to 295,000 worldwide. We expect the integration of GAIN’s businesses to drive transaction volumes and create new cross-selling opportunities across all of our platforms – ultimately driving our financial performance in the process.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
