StoneX Group announced that its wholly owned subsidiary, StoneX Financial Limited has been awarded General Clearing Member (GCM) status by European Commodity Clearing AG (“ECC”). This achievement underscores StoneX Financial’s commitment to expanding its capabilities and providing enhanced services to its energy and commodities sector clients.
ECC is the leading clearinghouse specializing in energy and commodity products in Europe, providing clearing and settlement services for exchanges and over-the-counter markets, ensuring financial stability and mitigating counterparty risk in the trading of energy and commodities.
A key benefit for StoneX Financial is the ability to deliver an expanded range of services to a broader client base, including Non-Clearing Members (NCMs). This enhanced product suite includes power and gas futures and spot contracts, EEX carbon auctions, spot and futures products, and broader market coverage across the wider EEX offering. Additionally, it strengthens customer service capabilities for clients navigating power, gas, and carbon markets.
Ramon Martul, Chief Executive at StoneX Europe, commented, “We are delighted StoneX Financial has been awarded GCM status by ECC. Expanding our capabilities provides our clients greater market access, robust solutions, and the tools they need to navigate an evolving energy landscape.”
Brett Phillpott, Head of Exchange Traded Futures and Options at StoneX Financial agreed, adding, “Achieving GCM status with ECC is a proud moment for our team. It unlocks our ability to deliver seamless market access and more robust risk management to our clients.”
Dr. Tobias Paulun, CEO of ECC, remarked, “We are delighted that StoneX is extending its Clearing Membership at ECC. As a General Clearing Member, StoneX is now authorized to clear transactions on behalf of any Non-Clearing Member at ECC, increasing choice for our customers.”
This achievement highlights a year of strategic expansion for the StoneX group. Key milestones include wholly owned subsidiaries attaining membership in the India International Bullion Exchange (IIBX) in October 2024, Approved Participant status on the Montreal Exchange (TMX) in Canada in August, joining the Australian Securities Exchange (ASX) in April, and becoming the first approved clearing and trading member of the Abaxx Exchange and Clearing House in Singapore in January 2024.
Source: StoneX Group
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