StoneX to acquire Benchmark to strengthen equity, debt capital markets presence

StoneX Group (NASDAQ:SNEX) agreed to acquire The Benchmark Company LLC, adding to its equity and debt capital markets business, especially in equity research and investment banking, the company said on Tuesday.

Financial terms of the transaction weren't disclosed. Richard Messina, founder and CEO of Benchmark, will continue his role, leading the division within StoneX.

The acquisition will enhance and expand StoneX's debt capital markets offering, leveraging its global fixed income distribution network, said Anthony Di Ciollo, global head of Fixed Income at SNEX.

"The acquisition of Benchmark establishes a franchise-level equity research and investment banking platform at StoneX, significantly elevating our equities capabilities," said Jacob Rappaport, global head of Equities at StoneX (NASDAQ:SNEX).

StoneX (SNEX0 stock rose 1.0% in Tuesday premarket trading.