IMC, a leading market maker that provides liquidity in financial assets on trading venues across the globe, today announced an update to its corporate holding company structure. The firm created a new U.S. holding company to be known as IMC Global Holdings LLC, which will become the global parent company for the IMC group of companies.
The firm took this step to place IMC in a better position to achieve its strategic growth agenda. The largest portion of IMC's operations and the greatest number of its employees are already located in the United States. The new structure will enable the firm to operate on a more level playing field with its peers, who are mainly U.S. based, including from a legal, regulatory and regulatory capital requirements perspective.
IMC's headquarters will remain in Amsterdam and the firm’s day-to-day operations will remain unchanged. This change in corporate structure will have no impact on employee headcount, nor will it necessitate any employee relocations. IMC will maintain its two-tier board governance structure with a Management Board and a Supervisory Board. By retaining its substantial presence and headquarter functions in Amsterdam, the firm’s corporate tax residence in the Netherlands will remain unchanged, and as such the updated holding structure has no corporate tax implications in any region. IMC’s regulated entities are also unaffected and will continue to be subject to supervision by their respective regulators, who have been notified of the upcoming changes.
The Dutch Central Bank (DNB) has granted IMC Global Holdings LLC the required declaration of no objection in connection with this update to IMC's corporate holding structure. The proposed update is subject to other regulatory approvals in certain jurisdictions where IMC has an operative presence, which have similarly been obtained. This change is effective January 1, 2024.
IMC is a leading global market maker with more than three decades' experience and offices in Europe, the US and Asia-Pacific. IMC employs more than 1600 talented individuals across offices in Amsterdam, Chicago, Sydney, Hong Kong, Seoul, New York, Zug, London and Mumbai. Their core business is to provide liquidity in financial assets on trading venues, and to deliver the best outcome in value and risk to investors. IMC engages in trading activities on its own account and employs state-of-the-art algorithms, statistical techniques, and innovative low latency technologies to execute their strategies.
Stefan Simmons, CFF
+31 (0)6 203 007 96
Tom Laughran, Fleishman
+1 (312) 501-1909