INTL FCStone 2005 Annual Report Download - page 21

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ensure that in a situation of systemic financial distress and/or the failure of a counterparty and/or default of an
issuer, the potential estimated loss will remain within acceptable levels. The audit committee reviews the
performance of the risk committee on a quarterly basis to monitor compliance with the established risk policy.
Employees
At September 30, 2005, the Company had 67 employees. Seven of these employees had managerial
responsibilities, 37 were traders and 23 had administrative and operational duties, in such areas as accounting,
operations, compliance and technology.
ITEM 2. DESCRIPTION OF PROPERTY
The Company leases approximately 5,100 square feet of office space in Altamonte Springs, Florida. This
lease commenced on February 1, 2002 and expires on July 31, 2009. The Company leases approximately 5,300
square feet of office space in New York, New York. This lease commenced on December 13, 2002, and expires
on September 30, 2009. The Company leases approximately 1,500 square feet of office space in London. This
lease commenced on October 1, 2003 and expires on January 31, 2006. The London office space is shared with
the previous owners of the foreign exchange business under a shared cost apportionment arrangement. The
Company signed a new lease for approximately 3,900 square feet of office space in London on November 24,
2005. Occupation of the new premises will be in January 2006. The lease expires on December 20, 2012. During
the 2004 fiscal year the Company leased approximately 310 square feet of office space in Miami, Florida. This
lease commenced on December 18, 2002, and expired on January 31, 2004.
ITEM 3. LEGAL PROCEEDINGS.
The Company is not currently a party to any material legal proceedings. In light of the nature of the
Company’s activities, it is possible that the Company may be involved in material litigation in the future, and
such litigation could have a material adverse impact on the Company and its financial condition and results of
operations.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not Applicable
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