Team siliconindia

• StoneX to launch a precious metals trading desk in India by early 2026.
• Company to increase tech hiring by up to 20% annually for three years.
• New desk to serve jewellers, scrap players, and recycling businesses.

US-based financial services firm StoneX Group is expanding its presence in India with plans to set up a precious metals trading desk in early 2026. The move marks the company’s first on-ground trading setup in the country after two decades of importing gold into India through Dubai and GIFT City.

Greg Kallinikos, StoneX’s CEO for Asia Pacific, said the new desk will mainly serve Indian jewellers while also supporting scrap and recycling businesses. The expansion is part of a long-term plan to strengthen the company’s footprint in one of the world’s largest bullion markets.

Alongside the trading desk, StoneX will boost hiring across its operations in Mumbai and Bengaluru. The firm plans to increase tech and compliance recruitment by up to 20% every year for the next three years. Roles will include operations staff, compliance professionals, and anti-money laundering specialists. The company also aims to introduce financial derivatives in India over time.

StoneX already runs two major global capability centers in Pune and Bengaluru, with more than 600 employees working across software development, cybersecurity, automation, and trading systems. Future hiring will focus on building integrated applications for bullion, commodities, and equities.

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Kallinikos said India could eventually match the entire Asia Pacific region’s contribution to the company’s profit within a decade. He added that the expansion is driven by a deeper understanding of the local market and a long-term strategy not recent gains in gold or silver prices.