Securities business is largely focused
on a committing capital for clients and
fixed income in equity securities as
well as providing agency execution for
foreign clients into US markets. We also
offer tri-party clearing and we trade in
municipals, government securities, market
making, ETFs and ADRs and we do clearing.
Within the securities team at
INTL FCStone we have our Market
Making group. The Market Making group is
primarily focused on international
equities and our market makers are
broken out by region.
We've got traders that cover the
Americas, which is Canada through the US
and down to Brazil in South America.
We've got the EMEIA region which is Europe
Mid-East and Africa and all the way to Asia and the Pacific Rim.
On the fixed income on the equity side, we offer our clients a multilingual execution, we deal
with you know hundreds of clients.
We are
still entrepreneurial spirits we have
very humble grassroots beginnings even
though we have created this great
Fortune 500 company we still are very
client and employee centric
Our clients that we cover are some of
the best portfolio managers and
investment banks in the world and they
have informed decisions that they've
already made what they want to invest in
it's our job to help them find a way to
do it at the best possible pr ice and
facilitate that investment.
Securities Division focuses on institutional
clients of banks: broker-dealers, asset
managers, bank trust departments and
foreign clients. We offer  access to
foreign markets that are less readily
tradable and also offer liquidity in odd lots
and other securities that other
dealers may not;
We also offer execution on a principal
and agency basis
depending on the market needs and the client needs.
We don't do a
lot of advertising and we don't really
have to because of our reputation—It
speaks for itself, and the biggest
testimonial to that would be all of our
client referrals
To be client-facing is
is a term that's easy to throw around.
For us though, our clients are people
that we've dealt with for for years. We don't have clients to only deal with
us for short periods of time. Our best
clients we've had for over ten to
fifteen years and we have deep long
relationships with because we interact
with these people every day and
ultimately it's our responsibility to
give them good clear pricing and if we
do a good job they're gonna be able to
keep coming back.
Our relationships are
built on a foundation of credibility and
trust; we understand our customers' needs, we care about what their needs are,
our customers are very busy people—they're
wearing numerous hats so we want to make
sure that we're never wasting their time
we're only presenting them with ideas
that they find valuable we're only
showing the most suitable ideas
In the securities business we're very
client centric, we only deal with
institutions and in general they're more
sophisticated than retail investors so
we have a constant challenge to stay in
front of our clients with the most
up-to-date information and the best
service possible because they can get
you know, execution anywhere so we have
to be on the forefront.
I think the biggest thing that INTL FCStone offers
that other market makers do not is the
experience we provide. Our clients come
to us because they know that we're gonna
give them a fast and reliable answer. We're gonna help them navigate these
difficult and exotic markets that are
highly illiquid and give them execution
they can count on.
We're specialists, not
generalists, they know when they need to
put money to work in the specific
products that we trade that we're always
going to have ideas that are best suited
to their needs
not what we need to get off the books but what they actually need in order to have greater performance.
Being client centric we
operate with a 24-hour desk that we have
so much coverage that we are able to
answer every call, every email, from a
client with a very prompt and reliable
response.
At INTL FCStone, we're a public
company with some on NASDAQ and that
gives us an ability to have capital to
commit to clients; we have a good capital
base and we have a broader industry and
we also have a broad product offering. We
offer executions in emerging market
securities, municipal securities, ETFs, ADRs and GDRs, foreign ordinary shares
and we offer tri-party clearing services
that gives them an opportunity to have
one place to do all of those dealings as
a firm.
Our areas of specialization in
the Rates Division include a focus on
treasuries, agencies, and agency
mortgage-backed securities. Most recently
we've also added asset backed securities
and that's mainly a result of our
customers telling us that they were
underserved in that area. We also provide
them with daily, weekly, monthly
commentaries that are both market and
product specific. we also provide
performance attribution. I think the nice
thing about our size and scope is that
we're able to service the liability
driven investors as well as the total return asset managers.
It's our
responsibility as a market maker,
our defining responsibility, to keep an
orderly market. When our clients come to
us they know what they want to buy or
sell. It's our responsibility to help
them do it at the most advantageous
price and do it quickly. The greatest
reward is knowing that a client
who trusts you and is gonna send you
an order and have you give them a price
and then they give it to their client
and come back and say "Hey you really
made me look good on that one." It's the
best feedback we can get.
Today's equity markets are very
fragmented so there's a lot of diverse
market structure. Different
exchanges and in the fixed income market
there are different market structures
depending on the product so between
government securities, treasuries,
municipals and emerging markets use
different reporting systems as well as
different structure.
Specifically to our
Market Making team we have seen a huge
demand in the OTC market space.
We've seen a lot of companies that were listed
on New York or Nasdaq's now moved into
the over at the counter space, so we've
seen an increase. Push, demand, increase
order flow in Europe, Asia, Lat-Am, and
obviously the big buzzword is ETFs.
Some of the major fundamental issues we deal
with are: interest rate policy,
International FX rates, different
emerging market crises as well as
commodity price variations.
Number one, our service is top-notch, and
number two, we're committing capital
behind all of our customer orders. A lot
of our clients deal with, you know,
various geopolitical issues with
regularity; we have to offer access to
those markets so they're looking for
someone who can commit capital
immediately to their orders to
facilitate their needs and we're
continually on the forefront of getting
clients the access and execution that they need.
What I think makes INTL FCStone
unique is we tailor fit everything to
our customers needs and every phone call
is very different every question is very
different that's what makes it
interesting to come into work every day
to be honest, is every day is so
different from the day before not just
because of the markets not just because
of where interest rates are or news
stories are happening, but because of our
clients.
there's a lot of things that
make our team unique here. Most recently
we've been the number one market maker
in foreign securities, traded OTC
according to Bloomberg. We have provided
liquidity at nearly a three-to-one ratio
not only to our clients but to the
street. We've also brought a number of
new foreign securities to the OTC
market, meaning we've brought foreign
companies to our SEC and FINRA regulated
ATFs, we're responsible for about 50% of
those new names in the last three years.
I've spent my entire career at INTL FCStone. We have great team service in
the securities business
it's an exciting environment because
markets are changing so rapidly that you
need to be able to be on the forefront
and communicate with clients continually
keeping them abreast of any market
changes and when you meet a client's
need and their goal and you're able to
get an execution done for them and the
best way possible in their best interest,
that's success.
