StoneX extends its UK institutional prime solution
07 June 2023 UK
Image: AdobeStock/offcaania
StoneX continues to build up its UK institutional prime brokerage solution with the addition of securities lending and repo financing, along with multi-asset segregated custody and clearing services.
Its institutional prime solution was established to support the needs of mid-tier hedge funds with execution, financing, position and currency hedging, futures clearing, along with a multi-asset custody product that aligns with the Financial Conduct Authority safe custody rules detailed in the client asset sourcebook (CASS).
The company has strengthened its team in London with the appointment of Gary Clifford-Newman to drive cross-asset sales and James Barten, who becomes head of EMEA securities finance.
Andrew Sterry was appointed head of the newly formed institutional prime division in October 2022, which sits within StoneX鈥檚 securities group fronted by James McAuslan, global head of prime services and head of securities for EMEA.
Expanding on these developments, StoneX鈥檚 McAuslan comments: 鈥淭he build out of StoneX Institutional Prime is a natural complement to our existing US offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally.
鈥淭he product expansion and appointments continue the significant investment in our technology platforms across trading, regulatory reporting, middle and back office to support sizeable growth in client business within our securities and prime offering.鈥�
鈥淪toneX鈥檚 Institutional Prime business is well positioned to cater for the needs of hedge fund managers as they undertake a selection process for Prime providers,鈥� adds Sterry.
鈥淲ith a partnership approach and a modular product offering, StoneX Institutional Prime can support hedge fund managers throughout their securities trade cycle.鈥�
Its institutional prime solution was established to support the needs of mid-tier hedge funds with execution, financing, position and currency hedging, futures clearing, along with a multi-asset custody product that aligns with the Financial Conduct Authority safe custody rules detailed in the client asset sourcebook (CASS).
The company has strengthened its team in London with the appointment of Gary Clifford-Newman to drive cross-asset sales and James Barten, who becomes head of EMEA securities finance.
Andrew Sterry was appointed head of the newly formed institutional prime division in October 2022, which sits within StoneX鈥檚 securities group fronted by James McAuslan, global head of prime services and head of securities for EMEA.
Expanding on these developments, StoneX鈥檚 McAuslan comments: 鈥淭he build out of StoneX Institutional Prime is a natural complement to our existing US offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally.
鈥淭he product expansion and appointments continue the significant investment in our technology platforms across trading, regulatory reporting, middle and back office to support sizeable growth in client business within our securities and prime offering.鈥�
鈥淪toneX鈥檚 Institutional Prime business is well positioned to cater for the needs of hedge fund managers as they undertake a selection process for Prime providers,鈥� adds Sterry.
鈥淲ith a partnership approach and a modular product offering, StoneX Institutional Prime can support hedge fund managers throughout their securities trade cycle.鈥�
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