Park City-based outsourced trading firm Fillmore Advisors has been purchased by INTL FCStone Inc., a Fortune 500 company based in New York City. INTL, through its subsidiaries, is a provider of financial-services execution, risk management, market intelligence and post-trade services across asset classes and markets around the world. In April, INTL launched a prime brokerage division called Prime Brokerage and Fillmore Advisors will operate in that division, according to an INTL release.
The transaction will close upon regulatory approval. No financial details were released.
Fillmore Advisors is an independent firm and offers outsourced trading services and operational consulting to institutional asset managers. “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,” said Andrew Caplan, partner and CEO of Fillmore Advisors.
“We’re thrilled to add the Fillmore Advisors team to our Prime Brokerage division,” said Michael DeJarnette, managing director and co-head of Prime Brokerage. “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.”
INTL FCStone’s brokerage division in which Fillmore Advisors will operate offers multi-asset brokerage, execution, outsourced trading, custody, self-clearing, and introduced clearing services for hedge funds, mutual funds and family funds.