StoneX Group Inc. has recently secured recognition from the CME Group for its New York vault, allowing it to house and distribute various precious metals, including palladium. This approval signifies a significant milestone for StoneX, as it broadens its service offerings in the realm of physical metal trading.
This designation bestows upon StoneX the authority to manage gold, silver, platinum, and palladium under COMEX and NYMEX contracts, granting clients direct access to CME-eligible metals through the firm’s New York vault. This move is pivotal in simplifying the process for institutional traders, banks, refiners, and bullion dealers looking for secure storage and exchange access.
The uptick in physical metal influx into New York, with over 43 million ounces of gold in COMEX inventories in Q1 2025, underscores the growing demand for U.S.-based storage solutions. StoneX’s new depository facility not only bolsters market infrastructure but also expands client delivery options, solidifying the company’s standing in the global physical metals logistics arena.
Being one of only 11 approved depositories in the U.S. for COMEX and NYMEX deliveries, StoneX’s New York vault emerges as a crucial logistical hub for the movement and settlement of exchange-traded metals worldwide. Its unique positioning as a non-bank futures commission merchant operating such a facility highlights the firm’s pivotal role in facilitating exchange access, financial services, and physical delivery.
Philip Smith, the CEO of StoneX Group Inc., views this approval as a strategic step in fortifying the company’s integrated global metals platform. The firm’s commitment to serving clients comprehensively—from trade execution to physical settlement—underscores its dedication to enhancing transparency and resiliency in the commodities sector.
Michael Skinner, the Global Head of Metals at StoneX, emphasizes the expanded capabilities this milestone offers, enabling seamless end-to-end solutions for precious metals clients. The firm’s regulated status as an FCM and an exchange-approved depository lends credibility and reliability to its services, ensuring clients receive comprehensive support throughout the trade lifecycle.
StoneX Group Inc. operates a vast financial services network connecting entities to the global market ecosystem. With a focus on providing a range of services to enhance trading opportunities, manage market risks, and improve business performance, the company aims to be a trusted partner for its diverse client base.
This recent development aligns with StoneX’s overarching goal of offering a fully integrated global metals platform, positioning the firm as a key player in the industry. As the demand for secure storage and exchange access continues to rise, StoneX’s expanded capabilities in New York complement its existing vault operations in London and Frankfurt, further solidifying its global presence and market influence.