StoneX Group revealed it has agreed a deal to acquire R.J. O’Brien (RJO), the oldest futures brokerage in the United States, for approximately $900 million.
StoneX to Acquire R.J. O’Brien for $900m
The move is expected to significantly expand StoneX’s global derivatives presence.
Announced on Monday, the acquisition will be paid through a mix of $625 million in cash and 3.5 million shares of StoneX common stock.
StoneX will also assume up to $143 million of RJO’s debt. The transaction is expected to close in the second half of 2025.
The deal sees StoneX add over 75,000 clients and nearly 300 introducing brokers to its network, increasing its cleared listed derivatives volume by around 190 million contracts annually.
Client float is set to rise to over $13 billion, and more than $50 million in cost synergies and $50 million in capital efficiencies are expected.
“This is a transformational transaction,” said Sean O’Connor, Executive Vice-Chairman of StoneX. He added that it establishes the firm “as a leading global derivatives clearing firm.”
RJO, founded in 1914, generated $766 million in revenue and $170 million in EBITDA in 2024. CEO Gerry Corcoran will remain in a senior leadership role at StoneX.
“Our clients and brokers will have a plethora of new products and services across asset classes available at their fingertips, bringing meaningful new trading and hedging opportunities,” said Corcoran.
