StoneX Group Inc. (NASDAQ:SNEX) today 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 a 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.
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.
