StoneX Financial Becomes Member of Platinum Group Metals Auction

StoneX Group Inc. (NASDAQ:SNEX) today announced that its London-based subsidiary, StoneX Financial Ltd ("SFL"), has become a member of the Platinum Group Metals ("PGM") auction administered by The London Metal Exchange ("LME"). This membership will make SFL the first non-bank to participate in all the major precious metals auctions in London.

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Barry Canham, Global Head of StoneX Financial Ltd's Metals Division, commented on today's news, "We are excited to join the Platinum Group Metals auction as it marks another significant milestone for our precious metals business. We've had a strong relationship with the LME primarily on the Base Metal side of the business, so joining the PGM auction was a natural progression as we are already members of the IBA Gold and Silver auctions. Our customers expressed a continued desire for us to become members and the LME has been incredibly supportive throughout the entire process."

StoneX Financial Ltd's Metals Division provides clients with full-service trading capabilities and global access to the metals markets. SFL specializes in serving bullion wholesalers and traders, refiners and smelters, government agencies, banks & financial institutions, jewelry manufacturers, and other industrial users of precious metals. The LME's PGM auction and IBA's Gold and Silver auctions are hosted on a daily basis to auction off platinum, palladium, gold, and silver. With their membership to the LME's PGM auction, StoneX Financial Ltd. is now the only non-bank to be a member of all the major precious metals auctions in London.

(Source: Yahoo Finance)