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Updated · Bloomberg · Jun 9StoneX Expands India Commodities Push After Opening 1st Precious Metals Desk
2 articles · Updated · Bloomberg · Jun 9Summary
- StoneX plans to add base metals and agricultural commodities in India after launching its first local precious-metals trading desk in June.
- The move shifts more activity onshore in a market the US-based firm has served for over 20 years from London and Dubai.
- Greg Kallinikos, StoneX's Asia-Pacific CEO, said the company expects the India opportunity to widen into additional commodity segments.
- The expansion underscores StoneX's push for a firmer local foothold in India's fast-growing economy rather than relying mainly on overseas hubs.
Insights
With record profits, is StoneX's aggressive push into India a calculated masterstroke or a high-stakes gamble? How will this US financial giant's arrival reshape the power dynamics of India's domestic commodity markets?