INTL FCStone is set to acquire one of London's oldest clearing firms and strengthen its presence in the Square Mile.
The US commodity clearing firm announce its UK subsidiary, INTL Holding (UK), has entered into a memorandum of understanding with Neumann Gruppe to acquire its subsidiary TRX Futures.
TRX is a London-based clearing firm for commercial coffee and cocoa customers, as well as energy and financial products. It is a member of NYSE Liffe and ICE Futures UK.
INTL Holding (UK) is also the UK holding company of INTL FCStone (Europe) and is a a member of the London Metal Exchange and London Clearing House.
The deal...