March 5, 2019

Refinitiv and StoneCastle to provide FDIC insured cash solutions to institutions, advisors, and other financial intermediaries

Strategic agreement to provide StoneCastle’s FDIC insured cash solutions to Refinitiv’s clearing and self-clearing broker-dealer clients

NEW YORK, NY – Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, and StoneCastle Cash Management, LLC (“StoneCastle”), a leading FDIC insured cash provider, today jointly announced they have signed a strategic partnership agreement to fully integrate StoneCastle’s insured cash programs on the Refinitiv BETA platform. The integration enables financial intermediaries and wealth advisors utilizing the BETA platform to seamlessly connect their end clients with comprehensive cash solutions that address their short-term transactional cash (sweep) and longer-term strategic cash needs. StoneCastle provides FDIC insured cash solutions to institutions, advisors, and other financial intermediaries.

“We have worked closely with Refinitiv on four major implementations and conversions over the past eighteen months to establish FDIC insured programs for our valued clients,” said Dan Farrell, CEO at StoneCastle Cash Management. “We are thrilled to take this strategic relationship to the next level with such an impressive and respected firm that is ubiquitous in the industry.”

“Cash has made a resurgence over the past year and we are committed to ensuring that our BETA clients have access to the most relevant solutions for investor cash,” said Tim Rutka head of BETA Platform Solutions at Refinitiv. “As we continually look to find new ways to create or provide additional value for our clients, having full integration with StoneCastle’s insured cash programs underscores our commitment and aligns to our strategy of expanding our BETA platform ecosystem with best-of-breed partner solutions.”

With StoneCastle’s InterLINKTM Insured Deposits sweep program and its FICA® For Advisors position-traded products both integrated on the BETA platform, Refinitiv clients have a glide path that seamlessly connects investors to these cash solutions. FICA® For Advisors made headlines in October 2018 when it was added to the RIA and institutional custody platforms at U.S. Bank, the nation’s sixth largest custodian.

The partnership allows Refinitiv clients to continue optimizing cash sweep balances while providing a powerful tool to attract non-sweep, held-away cash balances. With StoneCastle’s 800+ active banks in its deposit network, Refinitiv clients will be able to support current and new assets while maximizing client and shareholder value.

“Our business model has always been to connect institutional and retail investors to banks through innovative deposit and cash management solutions,” adds Eric Lansky, President of StoneCastle Cash Management. “Our relationship with Refinitiv significantly widens this audience and allows us to meet growing demand quickly and more efficiently.”

BETA is a complete suite of brokerage products that seamlessly integrates with a client’s current operations to meet their personalized business needs. BETA enables clients to manage the daily tasks of their brokerage business, plus it provides forward-thinking features to keep clients positioned for the future. Additional information about BETA can be found here.

About Refinitiv

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

About StoneCastle Cash Management, LLC

StoneCastle Cash Management, LLC is a leading administrator of insured cash solutions for many of the world’s largest institutions, family offices, financial intermediaries, municipalities, colleges and universities, hedge funds, and endowments and foundations. StoneCastle is backed by the strength and stability of world class partners, Canadian Imperial Bank of Commerce (CIBC) and Charlesbank Capital Partners.


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