INTL FCStone Ltd Appointed by Bank of America Merrill Lynch to Broaden FX Payments Capabilities
INTL FCStone Inc. (Nasdaq:INTL), today announced that its London-based subsidiary, INTL FCStone Ltd.’s (IFL) Global Payments division, will provide Bank of America Merrill Lynch with international payments coverage and third-party delivery services in more than 70 exotic currencies via its network of over 300 correspondent banks around the globe.
Mike Robertson, Global Head of Transactional FX Trading, Bank of America Merrill Lynch, said, “We are constantly looking for ways to improve efficiencies for our customers. This agreement provides them with an integrated platform that streamlines the payments process in emerging market currencies and capitalizes on IFL’s well-recognized expertise in these markets.”
Gregory Vincent, Head of FX Payments (EMEA), commented, “IFL is a dedicated specialist helping to set best-practice standards for the industry. We’re thrilled to partner with Bank of America Merrill Lynch to enhance the value to customers by providing access to emerging market currencies and a platform for efficient execution of payments.”
