StoneX Group today (Tuesday) announced the acquisition of The Benchmark Company, a New York-based investment banking firm. With this move, StoneX Group aims to enhance its investment banking, equity research, and capital markets capabilities.

Enhancing Equity and Debt Market Capabilities

Benchmark is an investment banking firm with over 35 years in the industry. It focuses on sales, trading, and research. Its integration into StoneX now aims to strengthen the latter’s presence in equity and debt capital markets.

“The acquisition of Benchmark establishes a franchise-level equity research and investment banking platform at StoneX, significantly elevating our equities capabilities,” Jacob Rappaport, Global Head of Equities at StoneX, commented.

“This strategic move strengthens our ability to deliver deep market insights, superior execution, and comprehensive solutions to institutional and commercial clients in global capital markets.”

Beyond equities, the acquisition strengthens StoneX’s debt capital market services. StoneX plans to leverage its extensive global distribution network to maximize Benchmark’s capabilities, enhancing service offerings for institutional and commercial clients worldwide.

The acquisition remains subject to regulatory approval and customary closing conditions. Once finalized, StoneX expects the deal to significantly expand its financial services portfolio by improving its offering in the global capital markets.

Expanding Global Reach in Fixed Income

Last month, StoneX Group also finalized its acquisition of Octo Finances, a Paris-based fixed-income brokerage, to expand its services in Europe. The acquisition expanded StoneX’s offerings in bond and convertible sales, debt capital markets, and credit research.

“We are thrilled to officially welcome Octo Finances to StoneX Group and believe the company will provide us with significant new capabilities. Our joint planning is well underway, and we are excited by the opportunities for growth for the combined business in Europe.” Anthony Di Ciollo, Global Head of Fixed Income at StoneX, mentioned.

Octo Finances targets bond trading and credit research. According to the announcement, its addition boosts StoneX’s capability to serve institutional clients with fixed-income solutions.

Meanwhile, StoneX reported strong growth in its FX/CFD trading business for the fourth quarter, with revenues increasing 7% to $84.7 million compared to $79.2 million in the same period of the previous year. In the fiscal year 2024 (FY24) ending September 30, 2024, revenues in the FX and CFD segments surpassed $316 million, which represents a 21% YoY jump from $262 million.