INTL FCStone Acquires Outsourced Trading Firm Fillmore Advisors

[guru]

https://finance.yahoo.com/news/intl-fcstone-acquires-outsourced-trading-120000993.html
INTL FCStone Inc. (INTL) today announced that it has executed a sale and purchase agreement to acquire outsourced trading firm Fillmore Advisors. This news follows-on from the announcement that INTL launched a Prime Brokerage division in April of this year – with Fillmore Advisors now becoming an extension of that offering. This transaction, which is subject to regulatory approval, is effective on closing.

 

[qlai]

"Outsourced trading is a rapidly growing segment of prime brokerage services"

What exactly is being outsourced? Clearing?

 

[trend2009]

Why does intel have business in brokerage? Is not it a chip company?

 

[qlai]

You are confusing it INTC ticker.

 

[Robert Morse]

"Outsourced trading is a rapidly growing segment of prime brokerage services"

What exactly is being outsourced? Clearing?

They have a sales desk for trading. That is what gets outsourced. It is common for some larger institutions to use a trading desk.

 

[qlai]

They have a sales desk for trading. That is what gets outsourced.

So "outsourced" meaning "Trading Desk As A Service" kind of set up? I would assume that the people must be licenced so must be US citizens. So not the same as outsourcing tech.