Marex Spectron

Marex Spectron
Private
Industry Financial Services
Founded 2006
Headquarters London
Key people
 Simon Heale - Chairman
Ian Lowitt - CEO
Products Energy, Metals, Financial Futures & Options, Foreign Exchange, Freight, Environmentals, Softs and Agriculturals.
Number of employees
 600+
Website www.marexspectron.com

Marex Spectron is a UK based broker of financial instruments in the commodities sector and energy markets providing voice and electronic trading and clearing services. It also brokers financial futures & options, fixed income products and foreign exchange in addition to its core commodity markets.

The company's clients are predominantly commodity producers and consumers, banks, hedge funds, asset managers, brokers, commodity trading advisors and professional traders.

History

Marex Financial was established in 2006 as an independent derivatives and Foreign Exchange broker providing trading in commodities, financial futures, options and foreign exchange.[1] It was 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 74% stake and took control of business. It brought in a number of former Lehman Brothers bankers onto its board to expand the business.[2][3]

In May 2011, Marex Financial completed its acquisition of Spectron Group, a broker of wholesale energy and other commodity products and the company was renamed Marex Spectron.[4]

In July 2011, Marex Spectron acquired the Global Markets Division of Eden Financial, adding non-derivative products, including European cash equities and fixed income, to the company’s capabilities.

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.[5]

In May 2016, the firm established Nanolytics Capital Partners, a business focused on developing alternative investment products based on Marex Spectron’s award-winning Nanolytics® models.[6]

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.[7]

Operations

The company is headquartered in London and has offices in New York, Hong Kong, Singapore, Frankfurt and Oslo.

Memberships

The company is a member of the London Metal Exchange (where it is a Category 1 dealer), the CME Group exchanges, ICE US, NYSE Liffe, ICE Futures and Eurex.

Marex is a member of the Futures and Options Association and is regulated by the Financial Conduct Authority in the UK.

References

  1. ↑ "Private company information -MAREX Financial Limited". Bloomberg Businessweek. Retrieved April 24, 2011.
  2. ↑ "Stanley Fink joins trading supergroup Marex Financial". The Sunday Times. February 28, 2010.
  3. ↑ "Marex Financial in £94.5m deal for Spectron". FT.com. March 22, 2011.
  4. ↑ FT, March 22, 2011: "Marex Financial in £94.5m deal for Spectron"
  5. ↑ http://www.dailymail.co.uk/news/article-3035209/They-think-greed-good-City-traders-make-new-boy-eat-8-quarter-pounders-bosses-gamble-hundreds-pounds-ill.html
  6. ↑ http://www.marexspectron.com/about-us/news/2016/05/marex-spectron-establishes-alternatives-business
  7. ↑ http://www.marexspectron.com/about-us/news/2016/05/marex-spectron-reports-227m-operating-profit-for-2015
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