INTL FCStone, a financial services organisation delivering execution and advisory services in commodities, currencies and securities, has acquired the London-based EMEA oils business of ICAP.

The business includes over 30 front office employees across the fuel, crude, middle distillates, futures and options desks with deep-rooted relationships with over 200 well known commercial and institutional customers throughout Europe, the Middle East and Africa.
 
Philip Smith, CEO of INTL FCStone, says: “This is an excellent opportunity to add an experienced and highly regarded team within the oil broking sector. This customer-centric business helps complement our already extensive product and service offering out of London, that includes grains and oilseeds, coffee and cocoa, metals, foreign exchange, global payments and fixed income.”