Bill. I fiscal for and morning, safe. are joining earnings quarter call. you Good hope your and everyone, families our Thanks, healthy thanks and XXXX fourth all
go ones, and we'll never people loved of a XXXX forget. the their will of have as Far loss many loss the experienced of loss their businesses no doubt too the livelihoods. year down
and sympathy go of our those lives all by empathy been whose the Our disrupted to out have COVID-XX.
acquisition, remember our For we XXXX completed conditions, for nearly We our of also company as rebranded milestones year in strategic respect. results our achieved an significant we part, we and company. eye with a will every Amid and unprecedented record our towards accomplishments major a market future.
your character and times the of how and these board. to Challenging I the StoneX people teams test, the resiliency performed like truly couldn't be of business your Gain put across proud of and the
not of group has but truly exceptional performed a business We have that exceeded strongly, has a only and professionals expectations.
can numbers earnings the from in release, lot the there's As a noise you acquisition. related see to Gain of the
so to also made a this call. cover to some we in In there's numbers, addition, our report we've lot how changes
was quarter mixed. than saw prior to was preceding the it it highs the perhaps market general exceptional We still of us average fourth although the on declined environment the was for higher volatility The pandemic. in from quarter,
interest also rates client suffered full of brunt the near-zero We on float. our
term. in on up it On ago. at will client double nearly to what significantly, $X was the positive months XX that move rates note but it's, this treasury, float to billion, a XX-year started where our nearly recently and now managed of rates we have it's interesting front, it course, the to grow On near note, go unclear stands
price saw on level on calls, the form higher energy market indeed, increased of volatility in liquidity of During we a significant stress we Most last have of potential sector, and the clients. bad in experienced impact couple the which warned the longer-term of around significant concentrated And of both as the dislocation fourth result this the debt moves. was quarter. a our
we the write-down of a million, impact bad quarter, $X.X inventories. $X.X debt million a plus During of of energy had certain the physical
fourth record terms million of or EPS, to Our achieved of and Gain XX.X% equates accounting largely net $X.XX a ROE. the earnings to quarter due which net results reflect quarter share, earnings the We the per for $XX.X in transaction. for
consideration of value quarters, terms, the were up increased simplistic which February, by we in a could we bargain COVID-XX. accumulated In March When we closing we from value, to results the have Gain the tangible the represents $XX conditions coming have aggregate, extraordinary accruing market to which, Gain agreed to impact book tangible record The purchase amount. around achieve allowed of at anticipated in the similar but the and and Gain recorded purchase transaction a about not book June Capital, foreseen shareholders. for gain ended million which earnings StoneX
In transaction as $X.X $XX million million we gain, surplus aggregate, to tax. I the this as well way impairment acquisition break including is of $X.X believe rendered out look now million accounting, our expenses quarterly of a as the of as capitalized result the software at view related which after impact million $XX.X results the to is the best the of StoneX bargain acquisition. purchase approximately
the was excluding related charges these for million pretax quarter. debt Gain. quarter, the inventory of pretax aggregate $X This also acquisition earlier, number mentioned earnings for and acquisition Our million which of items also compensation, and before approximately bad increased $XX variable includes primarily write-downs the to any was
billion. record every XX% level. results $X.X annual revenues Operating to at rose Our achieved
XX.X% exclude on an aggregated about of or core in If average reached an earnings amounts $XXX on net and the post XX.X%. per tax, were $XXX.X mentioned which a ROE share, capital. of record itself Our again we earnings acquisition to $X.XX our representing our of earnings, impact the million annual million is around ROE amounts above
has increase $XX. per our significantly is our close to our M&A which allowed now equity and of now us boost The which capital, million $XXX than at combination to share, more record operating our stands book activity results and value
have We XX% is years, achievements. same extraordinary share around equity last and are and below for am per of very annually our period. our now These XX I this the of the team's results, capital slightly book number at value our proud compounded
support focus create our Our of runway it continued capital cornerstone allows generated compounding approach capital and an us always ROE on as been a to has growth. to our our internally
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of to of the within COVID-XX. this continues all place context take course, Of
here time discuss to some see as take forward the the I'll how of So we're to it. we responding likely impacts going what and pandemic
issues, mentioned to with however, large indices call, a are us, big many although I on there's and will and rough tunnel still have the deal vaccines. last number light of successful the As believe now the solvency of A while road end being at the businesses, that liquidity I and a small, disrupted reformatted with ahead of permanently.
has quarter. not our operations, since of terms last changed much In
many our employees, of continues us serving and remained More while look as employees of focused safety our other vendors opposed clients of although working than have on protecting our and function are from effectively, We to to the to the business environment. the to still return office, stakeholders. forward office home XX% our
of all engagement effectiveness virtual the client moved also our we're very achieved. to a encouraged and format, and have We level events with of we've
pandemic will normal once be our the virtual perhaps subsides. of So events new part
fiscal unprecedented and supported, to the to clearly fairly extent. response distorted, and monetary The a even significant possibly financial has markets COVID
system, out there's persistent excesses and these ongoing result. to as likely repercussions work volatility their perhaps As be way the a of
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more However, consolidation. businesses this Consistent especially and likely to environment our large, industry looking practice, recent acquisitions and team we likely to consolidation is operating post attracting for directly at hires and by indirectly difficulties more with aim diversified stable for less benefit lead to to is strategy or institutions. and the from the either move to this [ through ] directly clients to smaller
this a long increased of is share, base market for us positions float the well good we and client Our increased client growing believe our and indication term.
Gain you prior as spare themselves. acquisition. all length Next, the recap we've looking I I'll in at a benefits, rationale the speak the for at believe transaction so and calls discussed which far results the of
We of this the closed started consolidate most much now functions of that the mentioned synergies allow merged. legal some key portion quarter, efforts transaction and have I transaction. earlier this a to which have in to U.K., been As integration for capital us earlier, fourth will need approvals our significant during than realize we regulatory now of although central entities the the
and capabilities flows in made there's where yet have trading We product do. stages to appropriate, the integrating much but that early still progress good of process, and we're on
progress this so increasing we business, In up a than all, we're be very pleased doing time with brings and diversification and acquisition to every believe at to a level, allowing more ever. important at new dimension our when our us that may scale our
our dimension so to company us client a has company better brings become. its that Of information. the want This financial and present we segment business, Gain are the our represents to for course, company the new us. reassess which how to today we we prompted retail reflects new it is
thousands and the for presence grown and and of new client retail the well product our offering, of digital tremendously, segment. and to the addition highly clearing, XX accelerated with new vertically as Gain of asset Over only through also as platforms across to of portals products the connect client X trafficked integrated our the We last clients highly pursuit market classes execution, institutional high-touch our ecosystem a of and acquisition we terms breadth strategy depth and base. in not years, recognized service markets new great global our but significant expertise. The of global connecting have deep
As business Commercial, client have Institutional, Payment now Retail types: such, based X and users. on Global segmented we our
who needs. commercial represent other hedging and typically and Commercial and small- transact clients medium-sized corporations with businesses other to address us
and clearing financial companies funds related that Institutional clients to financial for services. hedge execution represent and industry-focused institutions other typically liquidity, look us and
are clients online retail use base, legacy of -- of client Retail business who utilize who also our we independent comprised include physical through our but clients wealth service retail the Gain and mainly the platform. trading broker-dealers metals precious management investors
Global banks, Our comprise Global charities Payments users nongovernment and Payment clients services. other of organizations, our
deploying that trading wide business client a segments. of operating our our distinct our range across offer disclosures, our by addition will for these segments. results manage release consolidated of you business these other and we each products and providing We operating earnings results, see services platforms, in to In
physical or we addition, derivatives, product structured the CFDs, FX breakout a following products, provided these securities, and and of of segments, by have difference and over-the-counter -- OTC revenue payments derivatives each operating In contracts listed categories: transactions. for for
have clearer also picture our provide the metrics of each metrics basis. should We same of engagement operating a client with our transactional These provided types. on
apples-to-apples will that with note We for new results retail Bill format consequently, X new provided only become comparison. going this to quarters been of detail, the results but in in some have X an through metrics facilitate will the the quarter more significant included these segment as the go highlights. Gain segments current are Gain have results should We historic and, quick months the in included more forward.
the result more volumes and for increased gains a quarter the of and year up annually evidenced for our market to volumes increased our COVID or Nearly float. due as by as volatility increased to Most due all transactional overall. are also the market client XX% share of
In year for quarter all revenues, our terms showed of the the growth segment board, the for of segments the both overall. and operating across
has our Looking at distributed through segment mind evenly for client business X how in demonstrates only the these bearing Retail is income, segments, breakout revenues quarterly that gained months.
as aided basis, the On during standout as products the year, over been doubling the an rollout business, by and the our which for income year. is performer annual X last its of segment years, capabilities conditions transformed Institutional well market nearly the has new
and the I up driven for X by from product we transactions revenues, in the was in largely earlier. business of categories of significantly Gain record of the the standouts inventory operating FX physical due quarter. the results had the and mentioned revenues first for the precious energy was to despite terms Operating In the CFD business up quarter. XX%, as metals products markdown inclusion months X And time well,
were annual along physical operating an revenues revenue XXX%, up growth and FX and basis, securities of XX%, On and CFD XX% with operating respectively.
Interest by XX% XX% for our declined year. the earnings and on client float the quarter for
of think perhaps company's During rebranding of the ever. we that future. also quarter, the essence we in a was process, name name captures the a with And the forward-looking worst we corporate what our completed of ourselves company better rid the
was than are that can realized, Although a undertaking we now finally larger StoneX. say we rebrand the much we
will you to for Bill? I discussion over Bill the Dunaway of financial hand that, With results. a
