Chicago’s Oldest Independent Futures Firm Joins StoneX in $900M Merger
Key takeaways
- R.J. O’Brien was the last founding CME member still operating independently
- StoneX will retain the RJO name – for now – and keep Chicago operations intact
- Family legacy and client trust remain central to the deal
From butter and eggs to basis points and Brent futures, R.J. O’Brien & Associates has been an inseparable part of Chicago’s trading story for more than a century. That legacy is now poised to continue under a new banner, but with old values intact.
As reported in the Chicago Sun Times, StoneX Group announced this week that it will acquire R.J. O’Brien in a $900 million cash-and-stock deal, integrating one of the oldest futures brokers in the U.S. into a global financial services platform. The acquisition is expected to close later this year, pending regulatory clearance.
While the transaction represents scale and strategic alignment, it also carries symbolic weight. RJO, founded in 1914 and still largely held by the O’Brien family, was the last surviving founding member of the Chicago Mercantile Exchange. The company played a central role in the city’s emergence as a commodities trading powerhouse—first in butter and eggs, later in live hogs, and eventually in global financial instruments.
“We’re extraordinarily excited about this partnership between two great companies that each bring over a century of history,” said RJO CEO Gerald Corcoran. “We both prioritize a profound commitment to our clients and a focus on prudent risk management.” Corcoran will remain with the combined firm in a senior leadership role.
Bob O’Brien Jr., a board member and representative of the family, emphasized that the merger builds on generations of stewardship. “So many of our family members have been privileged to lead the company and provide guidance and counsel,” he said. “This merger is the natural next step, and we’re enthusiastic about our role as major shareholders in a firm that will carry that legacy forward”.
For its part, StoneX has signaled its intention to retain the R.J. O’Brien brand name and has pledged to keep Chicago as a key operational hub. About 300 of RJO’s 590 employees are based in the city.
The past may be rooted in LaSalle Street, but the future now extends from Chicago to New York, and far beyond.
To learn more about the legacy, structure, and future of the merger, view the official announcement from StoneX.
Written by: Andy Catsimanes
Read the original article by the Chicago Sun Times here.
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