StoneX Group received approval from CME Group to
operate a CME-registered depository at its New York vault. This development
enables the firm to store and deliver key precious metals, including gold,
silver, platinum, and palladium, under COMEX and NYMEX contracts.
The company said in a statement today (Tuesday) that the
offering aims to improve access for institutional traders, banks, and other market
players. As demand for U.S.-based precious metal storage grows, StoneX‘s new
depository reportedly offers better services to clients seeking regulated
delivery solutions.
Eying Integrated Global Metal Platform
“Our approval as a CME-Approved Depository is a
natural extension of our long-term strategy to build a fully integrated global
metals platform,” said Philip Smith, Chief Executive Officer of StoneX
Group Inc.
“We have made significant investments to serve
our clients end-to-end, from trade execution and inventory hedging to physical
settlement, and this move enhances our ability to meet that need at
scale.”
StoneX’s expansion into precious metals logistics
highlights its ambition to become a key player in global markets. The
CME-approved designation for its New York vault is a significant leap forward
in the firm’s strategy to build a fully integrated metals platform.
This vault now allows StoneX clients to access the COMEX and NYMEX delivery networks directly, making it one
of just 11 depositories in the U.S. authorized to facilitate such transactions.
By offering both secure storage and direct access to
the exchange, StoneX deepens its role in the physical metals sector, serving
institutional clients and bullion dealers with an enhanced suite of services.
Physical Metal Trading in New York
This approval comes at a time when physical metal
influx into New York has reached unprecedented levels. COMEX inventories
reportedly surpassed 43 million ounces of gold in the first quarter of 2025,
signaling a growing demand for secure, U.S.-based storage solutions.
StoneX’s vault addresses this demand, reinforcing the
firm’s capabilities in metals logistics while ensuring that clients benefit
from a highly regulated, transparent delivery process.
The StoneX vault stands out not only for its strategic
location but also because it is the only non-bank futures commission merchant
(FCM) with CME depository status. In addition to its New York vault, StoneX operates
vaults in London and Frankfurt, which complement its U.S. operations and
enhance its global reach.
This article was written by Jared Kirui at www.financemagnates.com.
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