RJ O’Brien Bought by StoneX

R.J. O’Brien has reached a definitive agreement to merge what is the US’ oldest futures brokerage and clearing company into StoneX Group in a $900 million deal that is expected to close in Q3 subject to regulatory approval.

RJO has been a family-owned business since foundation in 1914, and StoneX says the transaction will add over 75,000 new clients and grow its client “float” by around $6 billion to over $13 billion. RJO clients, it adds, will benefit from StoneX’s range of markets, products, and services, including an OTC hedging platform, physical commodities hedging, financing, and logistic services, as well as access to liquidity across fixed income products.

“This is a transformational transaction for StoneX, establishing us as a leading global derivatives clearing firm and reinforcing our position as an integral part of the global market structure across asset classes,” claims Sean O’Connor, chairman of StoneX. “Combining R.J. O’Brien’s extensive client network and proven clearing capabilities with StoneX’s deep liquidity, innovative OTC hedging solutions and leading risk management infrastructure, we are well-positioned to continue to deliver exceptional services, broader market access and industry-leading solutions to our combined client base. We are very pleased that Gerry Corcoran, who has been the CEO and driving force behind RJO, will continue on with StoneX in a senior leadership role.” 

Corcoran, who was chairman and CEO of RJO, adds, “[This partnership is] between two great companies that each bring over a century of history in the futures industry and complementary capabilities, products, services and cultures. We both prioritise a profound commitment to our clients and a focus on prudent risk management. RJO’s clients will continue to enjoy the same enduring relationships with the brokers they know so well and the high level of service they know they can expect from us.

“In addition to all the products we offer today, our clients and brokers will have a plethora of new products and services across asset classes available at their fingertips, bringing meaningful new trading and hedging opportunities,” he continues. “At the same time, our organisation will benefit from new efficiencies, premier technologies and greater growth potential.”