Marex Spectron, a UK-based broker of financial instruments in the commodities sector and energy markets, providing global voice and electronic trading and clearing services, has acquired Marquee Oil Broking Limited, a specialist provider of physical fuel oil broking services.
The deal, which includes founder Adam Trehane, who set up the business in 2014, one director and two senior brokers, will strengthen the firm’s capabilities in the physical energy and shipping markets.
Marex Spectron has teams based in London, New York, Houston, Connecticut, Calgary, Oslo and Singapore, all dealing with multiple energy markets. The acquisition contributes to its capabilities in the physical market, which today also includes top-tier physical gasoline and shipping franchises.
Jeremy Elliott, Managing Director Energy at Marex Spectron, commented: “We are delighted to be joined by Adam and the Marquee Oil broking team. This is a natural extension of our market-leading energy platform and broadens Marex Spectron’s capabilities to service top-tier global clients. With the impending IMO 2020 fuel oil spec changes, we see new opportunities to expand our coverage across the global physical and derivative markets.”
In December 2018, Marex Spectron announced its acquisition of the customer business of Rosenthal Collins Group LLC, an independent futures commission merchant (FCM) based in Chicago.
In January 2019, Marex Spectron announced that it had acquired London based trading firm CSC Commodities from BGC European Holdings, who will 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.
In April 2019, the firm appointed ex-Societe General executive Matthew Gill to serve as Head of Sales for Base and Precious Metals in EMEA markets. Based out of the firm’s UK office, Gil will help further improve the current metals division’s business performance given his vast career in dealing with metals and metals based instruments. Prior to this, he served as Vice President of base metals derivates sales for French banking and financial service provider Societe Generale for nearly 9 years.
In 2018, Marex Spectron returned to the foreign exchange markets with the launch of a new FX platform offering available for desktop and mobile trading which includes FX and precious metal spot trading and market monitoring. FX intelligent execution services are provided for OTC and ETD across spot, forwards and futures, NDF’s, options, as well as FX price hedging. Marex Spectron clients are granted with direct market access for spot and futures in order to benefit from the aggregated liquidity of multiple banks and FX liquidity providers.
