StoneX clients can now leverage CME–TMX spread opportunities following the firm’s TMX membership, building on its recent ASX membership from April 2024.
StoneX Group Inc. announced that its subsidiary, StoneX Financial (Canada) Inc., has been granted Approved Participant status on the Montreal Exchange (TMX). This milestone expands StoneX’s extensive financial services network, which now spans over 40 derivatives exchanges globally.
Montreal Office Broadens Offerings
The Montreal office of StoneX Canada, known for its expertise in commodity trading and risk management, will now also provide services in listed fixed income products on the TMX. This new offering caters to a diverse range of global financial clients, including institutions, pension funds, hedge funds, index funds, and family offices.
“Achieving Approved Participant status on the Montreal Exchange is a key advancement in our global growth strategy,” said Alex Lacroix, Regional Director of StoneX Montreal. “With our expanded services in Montreal, we are well-positioned to help our institutional clients capitalize on new market opportunities.”
The new TMX status allows StoneX to offer clients from the US, Canada, and the EU the ability to exploit intermarket spread opportunities between the CME and the TMX. StoneX’s execution and clearing capabilities in Canadian markets further enhance this offering.
This development follows StoneX’s membership in the Australian Securities Exchange (ASX) in April 2024, signaling the firm’s strategic expansion into the APAC region.
NatWest Enhances FX Services with StoneX Partnership
In other news, StoneX Financial Ltd, another subsidiary of StoneX, has partnered with NatWest Group PLC to bolster NatWest’s international payment services. As reported by Finance Magnates, StoneX Payments will provide NatWest with third-party delivery and FX payment services, facilitating cross-border transactions in 10 additional currencies.
The collaboration leverages StoneX’s API-driven platform and its network of over 350 correspondent banks to offer improved foreign exchange rates and enhanced payment transparency. NatWest clients will benefit from more detailed payment information and access to markets that were previously unavailable.
