Marex Spectron

Marex Spectron is a UK-based tech-enabled liquidity hub, connecting clients to global energy, metals, agricultural and financial markets. Across its businesses, Marex Spectron provides high value add services in Market Making, Commercial Hedging, Price Discovery and Data & Advisory.

Marex Spectron
IndustryFinancial Services
GenreBroking & trading
Founded2005[1]
HeadquartersCity of London
Area served
global
Key people
Carla Stent - Chair[2]
Ian Lowitt - CEO
Lord Fink - Non-exec
ProductsEnergy, Metals, Financial Futures & Options, equities, Freight, Environmentals, Softs, Agriculturals and Foreign Exchange.
OwnerPrivately-owned
Number of employees
950+
SubsidiariesCSC Commodities, Marex Solutions, Marex Financial Products, NEON, Rosenthal Collins Group (RCG), X-Change Financial Access. Tangent Trading
Websitewww.marexspectron.com

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.[8]

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.[9]

In May 2016, the firm established Nanolytics Capital Partners, a business focused on developing alternative investment products based on Marex Spectron’s Nanolytics models.[10]

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.[11]

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.[12]

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.[13]

In January 2019, Marex Spectron announced that it had acquired London-based trading firm CSC Commodities from BGC European Holdings.[14]

In December 2019, the Group announced it had acquired London-based Marquee Oil,[15] a physical oil broker.

In March 2020 the Group acquired Tangent Trading,[16] a scrap metal trading firm.

Marex Spectron Group reported record results for 2019 with gross revenues up 43% to $554.9 million and net revenues up 19% to $349.9 million.[17]

In November 2020, Marex Spectron acquired XFA, an exchange traded derivatives (ETD) execution broker, which is headquartered in Chicago and offices in New York and San Francisco.[18]

Corporate operations

Headquartered in London, Marex Spectron has offices in Hong Kong, Singapore, Dublin, Frankfurt, Paris, Oslo and in North America, Chicago, New York, Connecticut, Houston, Montreal 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. "Marex Spectron acquires Schneider pro-trader unit, expects to spur interest in metals | Metal Bulletin.com". www.metalbulletin.com. Retrieved 2020-12-17.
  9. https://www.telegraph.co.uk/news/uknews/11530700/Junior-trader-made-to-eat-8-burgers-in-humiliating-City-initiation-ceremony.html
  10. www.marexspectron.com/about-us/news
  11. www.marexspectron.com/about-us/news
  12. "Marex Spectron Discloses Positive Financial Results for 2017". Finance Magnates. April 12, 2018.
  13. "Broker Marex to acquire customer business of Rosenthal Collins". Reuters. December 20, 2018.
  14. "Marex Spectron buys London-based trader CSC Commodities". Reuters. January 21, 2018.
  15. https://www.leaprate.com/forex/brokers/marex-spectron-acquires-marquee-oil-broking-limited/
  16. https://www.metalbulletin.com/Article/3921266/Marex-acquires-scrap-merchants-Tangent-Trading.html
  17. https://in.reuters.com/article/us-marexspectron-results-idUSKCN2291CH
  18. https://uk.reuters.com/article/xfa-ma-marexspectron/broker-marex-spectron-buys-x-change-to-bulk-up-in-n-america-idUKL1N2HX0S8
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