Utah Based Fillmore Advisors Acquired By INTL FCStone

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Fillmore Advisors

Utah Based Fillmore Advisors Acquired By INTL FCStone

July 13, 2019

Fillmore Advisors As per the recent announcement made by the firm, New York-based NASDAQ listed financial service provider INTL FCStone has acquired Utah based outsourced trading firm Fillmore Advisors. Fillmore Advisors is one of the leading independent firms in the financial industry which specializes in outsourced trading solutions and is based out of Park City in Utah. The firm is made of traders who are highly experienced and knowledgeable on both buy & sell side trading activities on a wide array of global investent vehicles. 

This new deal by NY-based INTL allows the firm to serve its institutional clients with better service offerings and benefits as owing to comprehensive product coverage offerings available at Fillmore Advisors on a wide range of assets covering equities, forex pairs, commodities, credits and rates. Post completion of the acquisition process, Fillmore Advisors is expected to serve as an extension of INTL FCStone’s prime brokerage service offerings. 

While news of acquisition has been made public, the deal is still subject to regulatory approval and will only become effective when the deal is fully completed and closed. So far, no financial details of the deal (cost of acquisition) have been made public but the details on same are expected to be announced once the acquisition process is complete. This deal was influenced by the need to bolster FCStone’s newly established prime brokerage division as it currently lacks the strength to compete with market heavyweights currently active in the prime brokerage sector.

INTL FCStone ventured into prime brokerage market back in April 2019 targeting mutual and hedge fund operators. INTL’s prime brokerage business division currently offers product suites consisting of multi-asset prime brokerage execution, custody, self-clearing and outsourced trading services. The offer is made attractive owing to their flexible platform which helps improve effectiveness and efficiency of custody, trade execution and clearing service for the U.S.A. & global equities, options, futures, forex pairs and fixed income assets. 

When speaking about this deal, Andrew Caplan, Partner and CEO, Fillmore Advisors, commented, “The Fillmore team is excited to join INTL FCStone and extend their global reach and best-in-class Prime Services platform to our client base. We will continue to partner with our existing clients and look forward to working with INTL’s management team to assist in the division’s continued growth and success in outsourced trading”. Commenting on the same topic, Michael DeJarnette, Managing Director and Co-Head, Prime Brokerage stated, “We’re thrilled to add the Fillmore Advisors team to our prime brokerage division. Outsourced trading is a rapidly growing segment of prime brokerage services, and the acquisition represents a tremendous opportunity to add a fast-growing leader in outsourced trading solutions as we continue to grow our division. This acquisition is an example of our strong commitment to continued innovation as we look to offer specialized services for hedge funds both domestically and abroad”.

Please feel free to share your thoughts with us in the comments below. 

Source: https://www.prnewswire.com/news-releases/intl-fcstone-acquires-outsourced-trading-firm-fillmore-advisors-300883119.html

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