StoneX Launches Powerful Web-based Merchandising System 'StoneHedge' for the Commercial Grain Industry
NEW YORK, Feb. 3, 2022 /PRNewswire/ -- StoneX Financial Inc., a subsidiary of StoneX Group Inc. (Nasdaq: SNEX), today announced the launch of StoneHedge, a new web-based merchandising system that enables commercial grain companies to originate grain more efficiently by streamlining the process of creating and managing offers/contracts and their corresponding hedge orders.
StoneHedge solves grain companies' most critical needs, allowing them to incorporate cash bids, stream quotes, initiate contract/offers/orders, and manage their long/short position and hedges through one centralized and easy-to-use platform. The StoneHedge system has already been rolled out to StoneX customers with over 50 million bushels handled over the last 12 months and will be available to the entire industry soon.
Dave Smoldt, President of the StoneX Commodities Division, commented on the news, "We are beyond thrilled to roll out StoneHedge, a seamless technology system that dramatically increases efficiency and creates an opportunity to reduce risk for the industry. StoneX prides itself on leveraging our connections and our boots-on-the-ground experience to better understand the clients we serve. StoneHedge was born out of our unique mix of our industry knowledge and technical expertise that gives us a deeper and more meaningful understanding of our customers' goals and needs."
StoneHedge was designed to transform grain companies' offer management process to drive efficiency, enabling them to serve their customers better by increasing productivity for originators and hedge managers while minimizing the potential for errors and slippage.
Mike Silver, Manager of Grain Origination & Risk Services of Kokomo Grain, Kokomo, IN, and StoneHedge Customer, stated, "We recently integrated StoneHedge into our operation and are already convinced we made the right decision for our business. Grain companies often deal with multiple customers across multiple locations, and with competition growing and margins shrinking, efficiency and customer service become more important than ever. StoneHedge has helped improve both through its all-in-one intuitive platform that is clearly designed to be easy to use for our industry."
Robert Crow, Grain Division Manager of Frontier Ag Inc, Goodland, KS, and StoneHedge Customer, stated, "StoneHedge has made our origination more efficient and simplified our merchandising. Before, our originators would call their offers and contracts into the office or central hedge desk and then get their fills reported back to them. Merchandisers had to manage every hedge order to a T and the central hedge desk had to manage what month to place the hedges in. StoneHedge is complex enough to do the automated processes I need and yet simple enough to use that my originators can buy bushels on their laptops while riding in a combine with the farmer. He has his fill instantly and it is hedged in the correct futures month that I want, even if the bid is off a different month. We look forward to more automation and streamlining of our processes to better serve our customers and handle more bushels per employee and StoneHedge is working to get us there."
About StoneX Group Inc.
StoneX Group Inc. (formerly INTL FCStone Inc.), through its subsidiaries, connects clients with the global markets across all asset classes – providing execution, post-trade settlement, clearing and custody services through one trusted partner. Clients use its global financial services network to pursue trading opportunities, make investments, manage their market risk, and improve their performance. A publicly traded company (NASDAQ:SNEX) headquartered in New York City, StoneX Group Inc. and its 3,000 employees serve more than 35,000 commercial and institutional clients, and 340,000 active retail accounts, from approximately 70 offices spread across six continents.
To learn more about StoneHedge, please visit: https://insight.stonex.com/stonehedge_demo_request/
To learn more about StoneX, please visit: https://www.stonex.com/
Media Contact
Jay A. Morakis
M Group Strategic Communications (for StoneX Group Inc.)
+1 646 859 5951
jmorakis@mgroupsc.com
SNEX-G
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SOURCE StoneX Group Inc.
