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StoneX Group has announced that it will acquire The Benchmark Company. The deal strengthens its capital markets division with an established investment banking and research firm.
Benchmark, founded in 1988, provides institutional brokerage and advisory services. Richard Messina, its CEO, will remain in his role and oversee operations under StoneX.
“A high-level equity research and advisory division”
Jacob Rappaport, Global Head of Equities at StoneX, commented, “Acquiring Benchmark creates a high-level equity research and advisory division. This addition increases our ability to provide market analysis, execution, and strategic solutions for institutional and corporate clients.”
StoneX pursued multiple acquisitions to expand its market presence and increase its capabilities in equities and fixed income. Absorbing Benchmark introduces new advisory expertise that may allow StoneX to compete with larger firms. The outcome depends on the integration of services and client demand.
Richard Messina, CEO of Benchmark, said, “StoneX’s global resources provide the scale needed to improve our services and increase value for clients. This transition allows us to build on our strengths while maintaining our focus on institutional clients.”
Anthony Di Ciollo, Global Head of Fixed Income at StoneX, stated, “Benchmark’s expertise strengthens our debt capital markets services. Expanding into this area improves our fixed income distribution and increases access to financial solutions.”
The transaction requires regulatory approval and standard closing conditions. StoneX provides financial services across global markets, offering trading infrastructure, execution solutions, and risk management tools. Benchmark operates in institutional research, capital market transactions, and corporate advisory.
StoneX Digital Secured VASP License in Ireland
StoneX Digital, the digital asset subsidiary of StoneX Group, recently secured a Virtual Asset Service Provider authorization from the Central Bank of Ireland. Authorized to operate a digital asset business in Ireland, StoneX Digital automatically achieves an EU passport to operate across the European Union ahead of the implementation of MiCA rules.
This is the latest step in the StoneX Group’s expansion into digital asset services for institutional clients: the StoneX Digital platform will provide execution and custody services, offering deep liquidity and flexible trading tools with multiple API integration options for seamless connectivity.
The StoneX Digital services will be integrated into the StoneX Group’s suite of global prime brokerage services, complementing existing offerings across the StoneX product suite, including equities, ETFs, futures, and treasuries.
The crypto-focused subsidiary was launched in June of 2022 to extend the strengths and breadth of the StoneX offering to the digital asset markets, namely by delivering flexible trading tools and market access to institutional clients to trade and custody cryptocurrencies and other digital assets.
StoneX Digital’s path for expansion is expected to include a scope of products and services for multi-asset coverage, staking, margin, and cross-asset lending. This new product offering further enhances StoneX’s ability to connect clients to the global financial markets and offer a broad array of financial products and institutional-grade platforms.
