A press release entitled, "INTL FCStone Financial Selects StoneCastle as its Exclusive Insured Cash Sweep Technology Solution" tells us, "StoneCastle Insured Cash Sweep, LLC, a subsidiary of StoneCastle Cash Management, LLC ... announced today that it has been selected to be the exclusive cash management provider for the broker-dealer division of INTL FCStone Financial Inc.'s ... correspondent clearing business. IFCF is a New York-based independent clearing firm providing execution, clearing, and custody solutions for broker-dealers, investment advisors, and foreign financial institutions.... According to Crane Data, FDIC insured cash accounts have grown to more than a trillion dollar market over the past several years and are frequently favored by brokerage and advisory clients compared to other cash vehicles, such as money market mutual funds. As investors attain greater wealth, they are constantly seeking differentiated ways to minimize their risk, particularly with their cash holdings." The release quotes Roger Shaffer, Managing Director of Correspondent Clearing, "Since the acquisition of Sterne, Agee & Leach, Inc., we have worked to add new products, services, and capabilities in an effort to provide our correspondents the best available brokerage and wealth management tools. Our partnership with StoneCastle enables both US and non-US investors to obtain FDIC insurance benefits on cash balances up to $5,000,000 while earning a competitive return." StoneCastle Cash Management CEO Dan Farrell adds, "The vision of the INTL FCStone organization is impressive. We are honored to be a partner in this vision and have our differentiated cash solutions, extensive bank network, and leading technology directly help contribute to IFCF's growth and the value offered to its clients." Finally, the release says, "StoneCastle provides insured deposit solutions to institutional clients, family offices, brokerages, clearing firms, registered investment advisers, and other financial intermediaries. Following its entry into the insured sweep space in early 2017, StoneCastle is successfully fulfilling its objective to be a differentiated force in the cash space for the benefit of its clients. The IFCF deal is StoneCastle's second announced deal in the past two months."

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