StoneX sees 21% increase in FX and CFDs revenue in Q1

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes.jpg 730w, https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2021/05/StoneX-volumes-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>The diluted earnings per share (EPS) jumped 108% in Q1 to $2.04 per share.</p>
<h2>FX and CFDs demand</h2>
<p>The forex and contracts for differences (CFDs) market generated operating revenue of $72.2 million, registering a 21% rise compared to the same period the previous year. StoneX highlighted that this was driven by a $12.1 million increase in operating revenues derived from retail FX/CFD in its Retail segment.</p>
<p>In 2020, <a target="_blank" href="https://www.leaprate.com/forex/institutional/stonex-finalizes-acquisition-of-gain-capital/" rel="noopener">StoneX acquired Gain Capital</a> which provides a range of forex and CFDs services. However, the brokerage also faced currency risks due to its exposure to Gain’s UK domiciled subsidiaries. StoneX reported a $2.7 million foreign currency loss in Q1 as the Gain UK subsidiaries had a functional currency of the British pound.</p>
<p>Sean M. O’Connor, CEO of StoneX Group Inc., stated:</p>
<div><img aria-describedby="caption-attachment-431893" class=" wp-image-431893" src="https://www.leaprate.com/wp-content/uploads/2020/06/Sean-OConnor.jpg" alt="Sean M. O’Connor, StoneX" width="117" height="117" srcset="https://www.leaprate.com/wp-content/uploads/2020/06/Sean-OConnor.jpg 400w, https://www.leaprate.com/wp-content/uploads/2020/06/Sean-OConnor-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2020/06/Sean-OConnor-50×50.jpg 50w, https://www.leaprate.com/wp-content/uploads/2020/06/Sean-OConnor-245×245.jpg 245w" sizes="(max-width: 117px) 100vw, 117px" /><p>Sean O’Connor<br />Source: Twitter</p></div>
<blockquote><p>We delivered strong results in our fiscal first quarter with a diluted EPS of $2.04, an ROE of 18.0% on book value and 20% on tangible book value. We continued to experience higher volumes across the board from increased client engagement and market share gains. Increased market volatility and the prospect of rising interest rates provide additional catalysts for continued growth.</p></blockquote>
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