Customizable Swaps & Options

Customizable instruments offer the same benefits as Lookalike instruments, with the addition of customizable expiration date, strike, or futures reference contracts. This flexibility can enable a hedge that more closely aligns with the user’s risk profile and strategy.

Customizing the specifications of the contract may result in a more tailored hedge for the customer, however, it does limit the customized option’s optionality from being fungible with the exchange. Because the contract differs slightly from its nearest exchange-listed counterpart, customizable instruments are not directly fungible with exchange-listed contracts. For certain qualified customers, IFM’s initial and variation margin thresholds can, in some cases, act as financing.


Trading over-the-counter and exchange-traded derivatives is not suitable for all investors and involves substantial risk.  INTL FCStone Markets, LLC (“IFM”), a subsidiary of INTL FCStone Inc., is a member of the National Futures Association and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer.  IFM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of IFM.  Any recipient of this material who wishes to express an interest in trading with IFM must first prequalify as an ECP, independently determine that derivatives are suitable for them and be accepted as a customer of IFM.  Trading over-the-counter (“OTC”) products or “swaps” involves substantial risk of loss. This is not an offer to buy or sell any derivative. This material does not constitute investment research and does not take into account the particular investment objectives, financial situations, or needs of individual clients or recipients of this material.  You are directed to seek independent investment and tax advice in connection with derivatives trading.


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