StoneX Group is making a major push into the derivatives space by acquiring R.J. O’Brien & Associates, one of the oldest and largest independent futures brokerages in the United States. The acquisition, valued at around $900 million in equity, is expected to finalize later this year, pending regulatory approvals.
This move positions StoneX to significantly grow its presence in the U.S. futures market. Once the deal is complete, R.J. O’Brien’s global operations will be integrated into StoneX, creating one of the most prominent futures commission merchants in the country. RJO currently manages approximately 75,000 client accounts, which will be brought under the StoneX umbrella.
Enhancing Global Reach and Infrastructure
Gerry Corcoran, who has led R.J. O’Brien as CEO for more than 20 years, is set to continue in a senior leadership position at StoneX after the merger. He sees the acquisition as a forward-thinking move that not only preserves strong client relationships but also introduces expanded trading capabilities.
“Our clients and brokers will soon gain access to a broader range of financial instruments and services across various asset classes. This partnership allows us to offer greater trading and hedging flexibility while also bringing enhanced technology, operational efficiencies, and growth opportunities,” Corcoran stated.
The deal also marks a significant transition for the O’Brien family, which has been the majority owner of RJO for generations. As part of the agreement, they will become key shareholders in StoneX, signaling a long-term investment in the firm’s future.
Deal Timeline and Supporting Partners
The transaction is anticipated to close in the third quarter of the year, following standard regulatory approvals and closing conditions. RJO is being advised by Broadhaven Capital Partners on the financial side, with legal counsel provided by Mayer Brown LLP.
This acquisition follows a series of strategic expansions by StoneX. Earlier this year, the company bought Octo Finances, a fixed-income brokerage based in Paris, as part of its efforts to strengthen its European foothold. The Octo acquisition is expected to enhance StoneX’s offerings in the bond and convertible markets, debt capital issuance, and credit analysis.
In addition, StoneX recently welcomed Benchmark Company, a New York-based investment banking firm, into its brand. This move was aimed at expanding StoneX’s capabilities in investment banking, equity research, and broader capital markets services.
