The London-headquartered world leading commodity broker, Marex Spectron Group Ltd. has acquired the commodity business of London-based BGC European Holdings, CSC Commodities.
Marex Spectron, which has a global network spanning North America and Asia will allow it to press on with long term plans to develop its business of providing energy market making. CSC Commodities will continue to operate independently within Marex Spectron’s network and expand the group’s offering to a broader client base that deals in the commodity derivatives, including oil-related derivatives and agriculture markets.
CSC Commodities was established five years ago by Bastien Declercq and Alan Newman and has bases at London, New York and Gibraltar. It has 15 employees on its rolls. Marex Spectrom is continuously strengthening its position in the global commodity market including the expansion of its footprint across North America and Asia. It has also signed an agreement to acquire the customer business of futures brokerage Rosenthal Collins Group (RCG) which is expected to get completed in January 2019. The group has also developed new metals products for Singapore and has strengthened its existing European franchise.
Commenting on the news, Ian Lowitt, CEO of Marex Spectron, said:
“Acquiring CSC is an exciting development for Marex Spectron that adds a successful energy market making and trading team with an impressive long-term track record. They are a great fit with our existing businesses in Metals and Agriculture where we have industry leading market making franchises, and there are exciting opportunities to develop the business into new markets.”
Bastien Declercq, Chief Executive of CSC, added:
“We are delighted to be joining Marex Spectron; it’s an excellent fit for our business. As part of a world-leading commodity focused business, we gain access to a new range of products, infrastructure and geographies that will help us expand our business and diversify our operations.”