FX and CFD brokerage firm StoneX has promoted Qianyue Dai to Vice President and Senior Manager of Retail Business for China and Japan. Her role includes overseeing retail sales, institutional sales, and client management teams in both regions.

According to her LinkedIn profile, Dai has been with the StoneX Group for over three years, previously serving as Sales and Client Management Manager for China and Senior Manager of Retail Business in China.

A veteran in the forex industry, Dai previously held multiple positions at GAIN Capital, an online service provider offering retail forex trading services. At GAIN Capital, Dai rose from a forex specialist to Sales and Client Management Manager for China.

StoneX Group showed strong performance in the first quarter of the 2024 fiscal year, generating $74.6 million in revenue from forex and CFD trading. While this marks a 53% increase compared to the same period last year, it represents a slight 6% decrease from the previous quarter.

The revenue growth for StoneX in Q1 came from retail sales of FX and CFD contracts, contributing $66 million to the revenue, a 68% increase compared to the same period last year.

Despite the overall revenue growth, StoneX reports a 15% year-on-year decrease in the average daily trading volume for FX and CFD trades, reaching $10.9 billion. However, the fee per million dollars increased by 73% to $109, indicating an increase in trading profit margins.

StoneX, formerly known as INTL FCStone, expanded its business scope in the retail forex and CFD industry by acquiring GAIN Capital for $236 million. This move positions the New York-based group as a major player in the industry.

In addition, StoneX Group recently announced plans to issue $550 million in bonds maturing in 2031, aimed at refinancing existing debt. StoneX aims to address its financial needs globally by targeting overseas institutional buyers and entities through efficient global market solutions.