Today, GAIN Capital Japan had made an announcement regarding some interesting news. The firm will officially change its name from Gain Capital Japan Co Ltd to StoneX Financial Co Ltd. THis occurred thanks to it recently being acquired by StoneX, a financial services provider based in New York. StoneX, in turn, had previously been known as INTL FCStone.
Official Name Change To Signify Ownership Change
The official announcement, which itself was published on Forex.com/jp after StoneX had successfully completed the acquisition deal of Gain Capital Group back in 2020. The price for the entire company totaled at just shy of $236 million.
The official announcement from the company details that StoneX boasts more than a century of experience within the financial markets space, and developed the forex.com brand across the world at large. The report was quick to self-praise about the strict financial reporting, corporate governance, and disclosure standards it boasts. It further highlighted that it stands as a publicly listed company within the NASDAQ exchange.
Name Change That’s A Long Time COming
It was more than a year ago, back in February of 2020, when StoneX revealed its intent to acquire Gain Capital. The acquisition itself was completed in July of 2020, with StoneX forking over $6 per share. The acquisition deal itself was an all-cash transaction, with an approximate total value of around $236 million.
The Mandatory Kind Words
Sean O’Connor stands as the CEO of StoneX, and gave a public statement about the matter at large. He declared that Gain had a beneficial aspect to it in both strategic and financial merits. Furthermore, he declared that Gain’s acquisition has provided StoneX with various intellectual assets.
These assets, O’Connor declared, will allow StoneX to enhance its strategy to become the best financial platform within its class, where clients can connect to global markets across various asset classes. From there, vertically-integrated clearing and execution can be offered to these customers.
As for StoneX itself, it had recently published its financial results for its 2021 fiscal year’s first quarter, which ended on the 31st of December, 2020. According to this report, StoneX saw a large spike in CFD and FX business after its Gain Capital acquisition.
Another metric group that saw a large spike these past few months, are FX and CFD trading activities alongside operating expenses. Not to be outdone, StoneX had also opted to expand its sports sponsorship portfolio, which allows it to spread its public image. The most prominent sponsorship deal it inked out is with the Saracens, a prominent UK-based rugby team.