INTL FCStone has acquired Fillmore Advisors, an outsourced trading firm.
The acquisition of Fillmore Advisors comes after INTL launched a prime brokerage division in April, with Fillmore Advisors becoming an extension of that offering.
INTL FCStone's prime brokerage division offers multi-asset prime brokerage, execution, outsourced trading, custody and self-clearing. The division has also introduced clearing services for hedge funds, mutual funds, and family offices.
Fillmore Advisors headquartered in Park City, Utah, is composed of traders encompassing both buy-side and sell-side experience. The transaction is subject to regulatory approval.
Michael DeJarnette, managing director and co-head, prime brokerage, said: "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."
Andrew Caplan, partner and CEO of 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.”
He added: “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."
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