INTL FCStone joins ECC as new Direct Clearing Member
The European Commodity Clearing (ECC) welcomes INTL FCStone, London, as a new Clearing Member.
INTL FCStone Inc. is headquartered in New York and provides a wide array of financial services with a special focus on commodity trading. By holding a Direct Clearing license, INTL FCStone is allowed to assume clearing of its own trading transactions as well as those on behalf of associated trading participants and the firm’s clients.
"We are very pleased to welcome INTL FCStone, a financial service provider with long standing expertise in commodity trading as new Clearing Member. This will support our new clearing offering for agricultural products”, says Dr. Thomas Siegl, Chief Risk Officer of ECC.
“INTL FCStone is very happy with this development as it gives us access to a wider range of commodities on one exchange platform. In addition to trading agricultural products, we will also be able to offer complementary products such as fertiliser, electricity or natural gas to our customers and continue to build on our Dairy market business.”, explains Liam Fenton, Branch Manager at INTL FCStone.
Currently, 21 clearing banks are admitted at ECC. Of these, 19 banks hold a General Clearing License and two banks are admitted as Direct Clearing Members.
European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Gaspoint Nordic, Powernext and Power Exchange Central Europe, or registered for clearing on these exchanges. Furthermore, ECC will start clearing services for the Norwegian NOREXECO soon.