RJO plans mergers

08 May 2006

US independent FCM RJ O'Brien (RJO) last week said that it was looking to acquire after a six year period which has seen the firm experience nine-fold growth.

The firm said that customer assets soared 50% during the first quarter compared to the same period last year, bringing the total to $1.9bn, up from $1.7bn...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.