Printer Friendly
The Free Library
5,669,696 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

R.J. O'Brien Customer Assets Climb to $1.9 Billion; CEO Corcoran Credits Across-the-Board Growth in All Business Segments.


CHICAGO -- R.J. O'Brien and Associates, Inc. (RJO), the nation's largest independent futures brokerage, announced today that its customer assets soared 50% during the first quarter of 2006 when compared to the first quarter 2005, bringing the total to $1.9 billion, up from $1.7 billion at year-end 2005.

RJO's robust growth over the past decade is on course to continue according to Gerald F. Corcoran, CEO. The firm's dedication to client service and cutting-edge technology has proven to be a sound strategy as the demand for futures and derivatives swell.

"RJO is poised for continued expansion," said Mr. Corcoran. "Our infrastructure is solid, and we continue to build scale and attract quality clients. We are now ready to actively pursue strategic acquisitions."

RJO has grown nine-fold since 1999 when customer assets were $215 million. Last year, the firm ranked 15th in the annual Futures magazine rankings of the "Top 50 Brokers" in the derivatives industry, due to a 41% increase in 2004 which was topped by a 50% increase in 2005. RJO has set revenue records in each of the past 10 years.

During the first quarter, RJO has seen growth across-the-board. The highlights, as of March 31, 2006, include:

--Revenues up 59%

--Operating income up 71%

--Clearing volume up 50%

--Execution volume up 36%

--Adjusted net capital remains over $91 million

--Outstanding subordinated debt was reduced by 20%

Colleen Mitchell, President, cited accelerated institutional business as a boon to overall growth. "While all of our business lines have contributed to our stellar results, we are encouraged to see the wholesale business gain momentum, and we plan to allocate additional resources that will enhance our services to our institutional clients."

RJO is also on target to expand its global clearing capabilities. During 2005, the firm became a clearing member of the EuronextLIFFE and the Eurex exchanges. Currently, RJO is in the final stages of becoming full clearing members of the ICE, and is on track to become full clearing members of the SFE and HKFE HKFE

See: Hong Kong Futures Exchange
 by the end of the year.

R.J. O'Brien is the largest independent futures brokerage in the United States. A privately owned Futures Commission Merchant Futures commission merchant (FCM)

A firm or person engaged in soliciting or accepting and handling orders for the purchase or sale of futures contracts, subject to the rules of a futures exchange and, who, in connection with such solicitation or acceptance of orders, accepts any
 (FCM), RJO is also one of the oldest futures brokerage firms, dating to 1914. RJO is a founding member of the Chicago Mercantile Exchange Chicago Mercantile Exchange (CME)

Chicago Mercantile Exchange (CME) is the largest futures exchange in the United States and the second largest exchange in the world for the trading of futures and options on futures.
 and is a full clearing member of: the Chicago Board of Trade Chicago Board of Trade (CBOT)

The second largest futures exchange in the US, and a pioneer in the development of financial futures and options.
 (CBOT See Chicago Board of Trade.

CBOT

See Chicago Board of Trade (CBOT).
); the New York Mercantile Exchange New York Mercantile Exchange (NYMEX)

The world's largest physical commodity futures exchange.
 (NYMEX See New York Mercantile Exchange.

NYMEX

See New York Mercantile Exchange (NYM).
 and COMEX COMEX

A division of the New York Mercantile Exchange (NYMEX). Formerly known as the Commodity Exchange, COMEX is the leading US market for metals futures and options trading.


COMEX

See New York Mercantile Exchange (NYM).
 divisions); the New York Board of Trade (NYBOT NYBOT

See New York Board of Trade (NYBOT).
); Eurex AG; Eurex US; EuronextLIFFE; and Intercontinental Exchange (ICE). RJO offers the latest in order entry technology coupled with 24-hour execution and clearing on every futures exchange worldwide. RJO services a nationwide network of more than 250 introducing brokers and some of the world's largest financial, industrial and agricultural institutions. For further information, please visit www.rjobrien.com.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 2, 2006
Words:473
Previous Article:Freeport-McMoRan Copper & Gold Inc. Announces $0.75 per Share Supplemental Common Stock Dividend.
Next Article:Who's Winning after Two Years of Nationwide Local Number Portability?; Wireless Users and Verizon Wireless.
Topics:



Related Articles
DISNEY SHOWS GAINFUL SIDE INCREASE IN MOVIE REVENUE LIFTS PROFITS.(Business)(Statistical Data Included)
Announcements.
Tax break debate takes on new urgency.(Legislature)(Oregon lawmakers desperately seek ways to fill a $2 billion gap in the upcoming budget cycle)
AREW honors 12 women as part of anniversary.(Association of Real Estate Women)
PERS fix still not fair to taxpayers.(Columns)(Column)
BRIEFCASE DOLE PLANS TO BUY FROZEN FOOD FIRM.(Business)
OIL COMPANIES STRIKE GOLD PROFITS JUMP IN STEP WITH RECORD GAS PRICES.(Business)(Statistical Data Included)
Airline Finance News.
ORIX Annual Report to Shareholders: Stengthening Corporate Foundation for Medium and Long Term Growth.
GMAC Financial Services' new era as independent firm.

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles