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INTL FCStone's Singaporean unit completes UOB Bullion and Futures deal

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INTL FCStone's Singaporean unit completes UOB Bullion and Futures deal

INTL FCStone Inc.'s Singapore unit, INTL FCStone Pte. Ltd., completed its acquisition of the futures and options brokerage and clearing business of Singapore-based UOB Bullion and Futures Ltd.

Financial terms of the deal were not disclosed in a news release.

As part of the transaction, INTL FCStone Pte. upgraded its capital markets services license in Singapore so it can offer full-service brokerage encompassing dealing in exchange-traded derivatives contracts, over-the-counter derivatives contracts and spot foreign exchange contracts for the purposes of leveraged foreign exchange trading. It was also admitted as a trading member of Singapore Exchange Derivatives Trading Ltd. and Clearing Member of Singapore Exchange Derivatives Clearing Ltd.