INTL FCStone buys MEDA Trade Co Inc
The MEDA Trade Co Inc. (MTC) Board of Directors is pleased to announce the sale of MEDA Trade’s foreign exchange business to INTL FCStone. MEDA Trade has proudly served its FX clients with exceptional service for over 20 years. We strongly believe that INTL FCStone (INTL) will continue to provide the same level of excellent service to all of our clients.
INTL is one of MEDA Trade’s current trusted currency suppliers and the corporate successor to companies MEDA Trade has worked with for many years. Sheri Brubacher, MEDA Trade’s FX Officer, is supportive of the sale and will remain with MEDA Trade through June 2017 to assist clients through the transition.
With more than 30 years of experience, INTL FCStone delivers local currency to 175 countries for over 500 not-for-profit, religious and government organizations. With dedicated staff in New York, London, and Singapore, INTL prides itself on providing excellent service and looks forward to the opportunity to continue to serve MEDA Trade’s clients. You can read more about INTL FCStone here.
MEDA Trade Co Inc.
MEDA Trade Co. Endorses INTL FCStone Ltd's Global Payments Division to Service Clients as Firm Exits Payments Space
LONDON – FEBRUARY 7 -- INTL FCStone Inc. (NASDAQ: INTL) today announced that its London-based subsidiary, INTL FCStone Ltd's Global Payments Division ("GPD" or "the Company"), has been recommended by MEDA Trade Co. (“MEDA”) to facilitate cross-border payments to developing world countries for MEDA’s clients. MEDA Trade Co. is the Mennonite Economic Development Associates’ (an economic development organization whose mission is to create business solutions where poverty exists in developing nations around the world) payments unit, which is scheduled to close in June 2017.
Carsten Hils, Global Head of INTL FCStone Ltd's Global Payments Division, commented on today's news, "INTL FCStone’s Global Payments Division has enjoyed a longstanding relationship with MEDA and has worked closely with them on several projects in developing nations around the world. We are honored to be recommended by such an esteemed organization and look forward to providing MEDA and other NGOs with our superior global payments platform to help coordinate the vital work of these charitable organizations.”
INTL FCStone Ltd’s Global Payments Division specializes in transferring funds in local currency to the developing world and has been the industry leader in providing cross-border payments services in exotic currencies for two decades. The Company allows clients to execute payments in more than 175 countries and 140 currencies through its global network of approximately 300 correspondent banks, and leverages this network to provide industry-leading intelligence on local market conditions that critically impact international payments and foreign exchange. GPD team members regularly liaise with global decision makers and source proprietary intelligence that provides clients with unique insights into local market conditions, knowledge that is critical to ensure efficient and secure cross-border payments.
MEDA is an international economic development organization whose mission is to create business solutions where poverty exists. Founded in 1953 by a group of Mennonite business professionals, it partners with the poor to start or grow small and medium-sized businesses in developing regions around the world. MEDA Trade Co., which is being phased out so the organization can focus exclusively on its charitable endeavors, will continue to work closely with clients to ensure a smooth transition.
“We are pleased to endorse INTL FCStone’s Global Payments Division and confident that our clients will be exceptionally well served,” said Gerald Morrison, Chief Financial Officer at MEDA. “They have been excellent partners whose focus on conducting business in the most efficient and ethical manner aligns perfectly with our core principles.”
About INTL FCStone Ltd
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone Inc. ("INTL"). IFL is registered in England and Wales (5616586). IFL is authorised & regulated by the Financial Conduct Authority [FRN 446717]. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore. Any individual security mentioned in this presentation is subject to the following disclosure: This information is not meant to be viewed as analysis or opinion of any security. This information should not be taken as an offer or as a solicitation of an offer for the purchase or sale of any security or other financial instruments or as a recommendation to engage in any trading strategy. INTL FCStone Financial Inc. may have long or short positions in securities or related issues mentioned here.
INTL FCStone Inc., through its subsidiaries, is a leading provider of financial-services execution, risk management, market intelligence, and post-trade services across asset classes and markets around the world.
A Fortune 500 company with a nearly 100-year track record, the company focuses on providing products and services within the commodities, securities, foreign exchange and global payments sectors. INTL customers include the producers, processors and end users of virtually every major traded commodity; commercial counter parties; and governmental, nongovernmental and charitable organizations. The company also serves institutional investors, brokers, professional traders, CTA/CPOs, proprietary trading groups, commercial banks and major investment banks. Headquartered in New York City, the company is listed on the Nasdaq under the ticker symbol "INTL".
Further information on INTL FCStone is available at www.intlfcstone.com.
MEDA is an international economic development organization whose mission is to create business solutions where poverty exists. Founded in 1953 by a group of Mennonite business professionals, it partners with the poor to start or grow small and medium-sized businesses in developing regions around the world. MEDA’s expertise includes a full range of economic development tools: financial services, improved technology, business training, better access to markets and equity investment.
Jay A. Morakis
M Group Strategic Communications (for INTL FCStone Ltd)
+1 212 266 0191