StoneX Agrees to Acquire Fintech Company Chasing Returns

Fazzaco learned that StoneX Group, a global financial services network providing complete institutional-grade market access, has agreed to acquire Dublin-based fintech Chasing Returns. StoneX is reportedly planning to develop innovative products for its customers through the acquisition. 

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Chasing Returns uses behavioural science to help amateur traders improve their returns. The company's tools also help forex brokers with client retention, believing that all solutions to retention problems must be based on understanding and responding to how traders behave, not on how they think traders should behave. The company's trading performance management portal utilizes each trader's historical trades to identify unique strengths and weaknesses based on a series of psychological metrics.

"We are delighted to be joining StoneX as we believe that working more closely together, we can deliver more powerful tools for our traders, in a more integrated way. StoneX shares our vision of putting traders first, empowering them with the tools to learn from every trade, and investing to help them achieve long-term success," said Ann Hunt, Founder and Chief Executive of Chasing Returns.

"This acquisition further cements our dedication to providing our customers with the best-in-class risk management tools to increase their confidence and help protect their trading capital. With the acquisition of Chasing Returns, we will continue to develop innovative products that support our customers' trading," Glenn Stevens, StoneX's Head of Retail and Foreign Exchange, commented.

Fazzaco reported that StoneX has reported its financial results for the third quarter of FY 21 ​which ended on 30 June 2021, with total revenues reaching $10,192.1 million, 24% up compared to the same period in 2020.