INTL FCStone Ltd has said that its Precious Metals Division’s (the “Company”) web-based physical gold trading platform, PMXecute+ has traded nearly 10 tons of gold, representing close to $400 million in value, since its launch in late February 2017.
Barry Canham, global head of the Precious Metals Division, commented on today’s news, “We are proud of the significant trading volumes that we have achieved with PMXecute+ in the short time since its launch earlier this year. I look forward to providing additional updates to the market in terms of our volumes over the coming months.”
The Company’s focus since launch has been to ensure wider liquidity on the platform, progressively increasing the number of trading counterparties. With over 1500 locations and shipping routes available and a diversified gold inventory, the platform can be used as a strategic tool to reach a bigger market and identify new opportunities through just one relationship. Efforts will continue over the next few months to onboard more users and enrich the PMXecute+ value proposition.