Marex Spectron

Marex Spectron is a UK-based broker of financial instruments in the commodities sector and energy markets, providing global voice and electronic trading and clearing services.

Marex Spectron
IndustryFinancial Services
GenreBroking & trading
Founded2005[1]
HeadquartersCity of London
Key people
Carla Stent - Chair[2]
Ian Lowitt - CEO
Lord Fink - Non-exec
ProductsEnergy, Metals, Financial Futures & Options, Freight, Environmentals, Softs, Agriculturals and Foreign Exchange.
OwnerPrivately-owned
Number of employees
700+
Websitewww.marexspectron.com

Marex Spectron also brokers financial futures & options, fixed income products, shipping freight and foreign exchange, in addition to its core commodity market-making role. The company's clients are predominantly commodity producers and consumers, banks, hedge funds, asset managers, broking houses, commodity trading advisors and professional traders.

History

Marex Financial started in 2005 as an independent derivatives and forex broker providing trading in commodities, financial futures, options and foreign exchange,[3] established by the Marathon Special Opportunity Master Fund Limited which is managed by Marathon Asset Management after its former parent REFCo collapsed in 2005.

In February 2010, hedge fund JRJ Group took a 74% stake and executive control appointing a number of former Lehman Brothers bankers to its board to help expand business.[4][5]

In May 2011, Marex Financial completed its acquisition of Spectron Group,[6] a broker of wholesale energy and other commodity products when the company was renamed Marex Spectron International Limited.[7]

Timeline (as Marex Spectron)

In July 2011, Marex Spectron acquired the Global Markets Division of Eden Financial, adding non-derivative products as well as European cash equities and fixed income to its range of services.

In May 2012, Marex Spectron acquired the Pro-Trader division of Schneider Trading Associates (STA), a provider of professional trader services.

In April 2015, Marex Spectron hit controversy when it was revealed senior brokers bet hundreds of pounds on whether an intern could eat eight burgers in an hour.[8]

In May 2016, the firm established Nanolytics Capital Partners, a business focused on developing alternative investment products based on Marex Spectron’s Nanolytics models.[9]

In July 2017, the group launched Marex Solutions, a division aimed at providing tailored hedging to commodity clients looking to manage commodity price risk across agricultural, energy, metals & FX markets.

Marex Spectron Group posted 2015 operating profit of $23 million, a 53 percent jump on the previous year. EBITDA increased to $31 million from $25 million in 2014.[10]

Marex Spectron Group's net revenue for 2017 was $245.6 million, up $2.5 million from 2016. Pre-tax profits for 2017 were $25.4 million, down from $27.0 million in 2016, while adjusted EBITDA were a record $39.6 million, 6.7% higher than 2016.[11]

In December 2018, Marex Spectron announced its acquisition of the customer business of Rosenthal Collins Group LLC, an independent futures commission merchant (FCM) based at Chicago.[12]

In January 2019, Marex Spectron announced that it had acquired London-based trading firm CSC Commodities from BGC European Holdings.[13]

Corporate operations

Headquartered at London, Marex Spectron has offices in Hong Kong, Singapore, Dublin, Frankfurt, Oslo and in North America, including Chicago, New York, Connecticut, Houston and Calgary.

Memberships

A member of the London Metal Exchange (Category-1), the CME Group exchanges, ICE US, NYSE Liffe, ICE Futures and Eurex, Marex Spectron subscribes to the Futures and Options Association and is regulated by the UK's Financial Conduct Authority.

References
  1. www.companieshouse.gov.uk
  2. www.reuters.com
  3. "Private company information -MAREX Financial". Bloomberg Businessweek. Retrieved April 24, 2011.
  4. "Stanley Fink joins trading supergroup Marex Financial". The Sunday Times. February 28, 2010.
  5. "Marex Financial in £94.5m deal for Spectron". FT.com. March 22, 2011.
  6. Jeremy Isaacs CBE
  7. FT, March 22, 2011: "Marex Financial in £94.5m deal for Spectron"
  8. Daily Mail
  9. www.marexspectron.com/about-us/news
  10. www.marexspectron.com/about-us/news
  11. "Marex Spectron Discloses Positive Financial Results for 2017". Finance Magnates. April 12, 2018.
  12. "Broker Marex to acquire customer business of Rosenthal Collins". Reuters. December 20, 2018.
  13. "Marex Spectron buys London-based trader CSC Commodities". Reuters. January 21, 2018.
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