StoneX has moved to increase its remit and geographical reach through the acquisition of fixed income broker Octo Finances SA.
The completion of the transaction is subject to regulatory approval and closing conditions. StoneX will acquire 100% of Octo Finances SA shares once complete.
The move is designed to expand StoneX’s capabilities in fixed income and grow its presence in Europe, with a particular focus on France.
“This acquisition further expands our growing distribution network by over 500 clients, including banks, insurance companies, private debt funds, mutual funds and private wealth managers,” said Anthony Di Ciollo, global head of fixed income at StoneX.
“Octo Finances is a highly respected French brokerage firm known for its excellent client service. We are committed to fully supporting its growth and extending our products and capabilities to its high-quality client base.”
Fixed income broker Octo Finances is in Paris. It specialises in bond and convertible sales, debt capital markets and credit research.
“Joining StoneX is a natural fit for Octo Finances,” said Talabor Szabo, chief executive and co-founder of Octo Finances.
“StoneX’s commitment to innovation and client service aligns perfectly with our values and vision for the future. We are thrilled about the new opportunities this acquisition will bring and are eager to work together to enhance our offerings and grow our presence in the market.”
StoneX has been ramping up its fixed income offering with several new hires in recent months, most likely in preparation for its upcoming deal.
Among the new hires is former head of trading at Incline Global Management, Evan Halpern, who was named managing director of fixed income outsourced trading in January.
More recently, StoneX Group appointed Simon Pickworth – former MUFG – a s an institutional fixed income trader for the Central and Eastern Europe, Middle East and Africa (CEEMEA) region in April.