• StoneX Group Inc. operates a global financial services network connecting companies, organizations, traders, and investors to global markets.
• The company's fiscal year 2024 saw growth in transactional volumes across most segments, except for FX/CFD contracts due to lower FX volatility.
• Operating revenues increased by $522.1 million, with significant contributions from the Institutional and Self-Directed/Retail segments.
• The company serves over 54,000 commercial, institutional, and payments clients, and over 400,000 self-directed/retail accounts in more than 180 countries.
• StoneX is focused on mitigating market risk, ensuring liquidity, and maintaining a variable cost model.
• The company's net income increased by $22.3 million to $260.8 million, with diluted earnings per share at $7.96.
• StoneX completed several acquisitions in fiscal years 2023 and 2024, including JBR Recovery Limited, Trust Advisory Group, Ltd., Incomm S.A.S., and Cotton Distributors Inc.
• The company is subject to extensive regulation in multiple jurisdictions, including the U.S., U.K., and Europe, and is committed to compliance.
• StoneX maintains client segregated assets of $5.7 billion in its U.S. FCM as of September 30, 2024.
• The company is also subject to various anti-corruption laws, including the FCPA and trade sanctions administered by OFAC.

Score: 8

Explanation: The document presents a positive outlook with strong financial results and strategic growth initiatives, although some challenges are noted. The company is well-positioned for future growth.

• Operating revenues increased by 18% to $3,436.2 million in fiscal year 2024.
• Net income rose to $260.8 million, a 9% increase compared to the previous year.
• Diluted earnings per share reached $7.96, up from $7.45 in the prior year.
• The Institutional segment saw a significant revenue increase of $448.5 million.
• The Self-Directed/Retail segment's revenue increased by $62.0 million.
• The company's U.S. FCM held $5.7 billion in required client segregated assets as of September 30, 2024.
• StoneX issued $550 million of 7.875% Senior Secured Notes due 2031 and redeemed $347.9 million of 8.625% Senior Secured Notes due 2025.
• The company acquired JBR Recovery Limited for approximately $10 million, expanding its metals offering into sourcing and refining.
• StoneX acquired Trust Advisory Group, Ltd. to enhance its service reach into the Northeast.
• The company's payments business offers services in more than 140 currencies and 180 countries.

• The company experienced strong growth in operating revenues, particularly in the Institutional and Self-Directed/Retail segments.
• Net income and diluted earnings per share showed significant year-over-year increases.
• Strategic acquisitions are expanding the company's market reach and product offerings.
• The company maintains a strong position in clearing and execution services.
• StoneX has a diversified revenue stream across asset classes, client types, and geographies.
• The company has a client-first approach that differentiates it from large banking institutions.
• StoneX has a well-capitalized and regulatory-compliant organization.
• The company has a scalable platform for global payment solutions.
• The company has a strong global infrastructure with over 4,500 employees.

• FX/CFD contract volumes declined due to lower FX volatility.
• The company experienced lower rate per contract (RPC) on listed derivatives and OTC derivatives.
• Securities rate per million (RPM) decreased due to diminished equity volatility and backwardated markets in fixed income products.
• Payments RPM declined due to generally lower FX market volatility.
• Average client equity and money market balances decreased due to lower margin requirements.
• Interest expense related to corporate funding increased due to the issuance of new senior secured notes.
• Non-variable expenses increased due to higher fixed compensation, professional fees, and technology costs.

• The company is exposed to macroeconomic risks, including market volatility, interest rate fluctuations, and economic downturns.
• There are risks associated with market-making and trading activities, including price fluctuations and counterparty defaults.
• The company faces technology and cybersecurity risks, including system failures and cyber attacks.
• There are risks related to debt financing and indebtedness, including potential inability to renew credit facilities.
• The company is subject to global regulatory risks, including increased compliance costs and potential enforcement actions.
• International operations involve political, legal, and economic risks, including currency fluctuations and geopolitical instability.
• The company faces intense competition in the financial services sector.
• There are risks associated with acquisitions, including integration challenges and unforeseen liabilities.
• The company depends on attracting and retaining key personnel.
• Products linked to cryptocurrencies could expose the company to technology, regulatory and financial risks.

The company believes it is well-positioned to capitalize on key trends impacting the financial services sector, including increased regulation, consolidation, and demand for secure cross-border transactions.

• The company strives to be the one trusted partner to its clients, providing its network, products and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance.
• The company believes its client-first approach differentiates it from large banking institutions, engenders trust and has enabled it to establish market leading positions in a number of complex fields in financial markets around the world.

The announcement reflects the ongoing trends in the financial services industry, including increased regulatory scrutiny, consolidation of smaller firms, and the growing importance of cross-border transactions. StoneX is positioning itself as a key player in this evolving landscape.

• StoneX competes with independent FCMs, FCMs affiliated with large commodity producers, global banks, and independent and bank-owned swaps dealers.
• Global banks tend to focus on larger clients, while independent, non-bank FCMs focus on smallto mid-sized commercial clients.
• StoneX is one of few publicly listed mid-sized financial services companies offering access to global futures and options products.
• The company is one of the leading mid-market clearers in the securities industry, with approximately 100 correspondent clearing relationships and over $31 billion in assets under management or administration.
• StoneX is a provider of trading services and solutions in the global financial markets, including spot foreign exchange (forex) and CFDs, competing with both regulated firms and global multi-asset trading firms.
• In the payments market, StoneX is one of the independent providers and disruptors offering significant value to its bank, corporate and NGO/charities clients, providing competitive and transparent payments solutions.

• Shareholders will benefit from the company's strong financial performance and strategic growth.
• Employees will benefit from the company's focus on talent development and wellness programs.
• Customers will benefit from the company's expanded product offerings and improved services.
• Suppliers and creditors will benefit from the company's financial stability and regulatory compliance.

• The company will continue to focus on increasing client engagement and expanding product offerings.
• StoneX will continue to pursue strategic acquisitions to increase market share and expand into new areas.
• The company will continue to enhance and improve its electronic trading platforms.
• StoneX will continue to monitor and comply with evolving regulatory requirements.

• The company is subject to various proceedings, lawsuits, disputes and claims arising in the ordinary course of business, including governmental and regulatory investigations and proceedings.
• The company is involved in a FINRA arbitration related to a civil complaint filed by BTIG, and is cooperating with the DOJ and SEC in related investigations.

• September 30, 2024: End of fiscal year 2024.
• October 1, 2024: Acquisition of JBR Recovery Limited.
• November 22, 2024: 31,929,644 shares of common stock outstanding.
• November 27, 2024: Date of the report.
• March 5, 2025: Date of the Annual Meeting of Stockholders.