INTL FCStone’s ring-dealing sales top MF Global: Demler
Oct 19, 2012 | 05:33 PM
| Andrea Hotter
Tags
Fred Demler,
INTL FCStone,
MF Global Holdings,
LME Week 2012,
London Metal Exchange,
Andrea Hotte
LONDON — Almost a year after the dramatic bankruptcy filing of MF Global Holdings Ltd., its former London Metal Exchange metals team is housed at INTL FCStone Inc. with higher ring-dealing revenue than it had before, according to Fred Demler, global head of metals.
It took about five months from the sale of MF Global’s LME business before the team started to return meaningful revenue on the LME floor, but this part of the business recorded its highest historical revenue last month, Demler told AMM in an interview during LME Week.
"The ring business is now above 100 percent of where MF Global was, and the aggregate business is 60 to 70 percent of past days," he said. ....
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