INTL FCStone 2014 Annual Report Download - page 105

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INTL FCSTONE INC. Form 10K 89
PART II
ITEM 8 Financial Statements and Supplementary Data
Additional Information of FCStone, LLC
Related to Customer Segregated and Secured
Funds
Pursuant to the requirements of the Commodity Exchange Act,
funds deposited by customers of FCStone, LLC relating to futures
and options on futures positions in regulated commodities must
be carried in separate accounts which are designated as segregated
customers’ accounts. Certain amounts in the accompanying table
reflect reclassifications and eliminations required for regulatory filing.
Funds deposited by customers and other assets, which have
been segregated as belonging to the commodity customers as
of September 30, 2014 and 2013, are as follows:
(in millions)
September 30, 2014 September 30, 2013
Cash, at banks - segregated $ 314.0 $ 247.6
Securities - customer segregated — —
Securities held for customers in lieu of cash, at banks 0.5 19.5
Deposits with and receivables from:
Exchange-clearing organizations, including securities, net of omnibus eliminations 1,476.5 1,413.3
Securities held for customers in lieu of cash 14.8 13.1
Total customer-segregated funds 1,805.8 1,693.5
Amount required to be segregated 1,769.3 1,669.6
Excess funds in segregation $ 36.5 $ 23.9
Funds deposited by customers and other assets, which are held in separate accounts for customers trading foreign futures and foreign
options customers, as of September 30, 2014 and 2013 are as follows:
(in millions)
September 30, 2014 September 30, 2013
Cash - secured $ 46.8 $ 34.2
Securities — —
Equities with futures commission merchants 11.9 27.0
Amounts held by clearing organizations of foreign boards of trade — —
Amounts held by members of foreign boards of trade 14.5 21.3
Total customer-secured funds 73.2 82.5
Amount required to be secured 53.3 59.8
Excess secured funds $ 19.9 $ 22.7
NOTE 13 Commodity and Other Repurchase Agreements
e Company’s outstanding notes receivable in connection
with the sale/repurchase agreements, whereby the customers
sell certain commodity inventory and agree to repurchase the
commodity inventory at a future date at either a fixed or floating
rate, as of September 30, 2014 and 2013 was $20.6 million and
$9.2 million, respectively.
e obligations outstanding related to commodities sold under
repurchase agreements that are recorded in ‘broker-dealers, clearing
organizations and counterparties’ as of September 30, 2014 and 2013
were $0.0 million and $0.0 million, respectively. e obligations
outstanding related to commodities sold under repurchase agreements
that are recorded in ‘lenders under loans’ as of September 30,
2014 and 2013 were $7.5 million and $6.0 million, respectively.
NOTE 14 Share-Based Compensation
Share-based compensation expense is included in ‘compensation
and benefits’ in the consolidated income statements and totaled
$4.3 million, $9.3 million and $5.9 million for the fiscal years
ended September 30, 2014, 2013 and 2012, respectively.
Stock Option Plans
e Company sponsors a stock option plan for its directors,
officers, employees and consultants. e 2013 Stock Option
Plan, which was approved by the Company’s Board of Directors
and shareholders, authorizes the Company to issue stock options