Marex Spectron, The UK based brokerage known for its CFD and energy sector electronic trading and clearing services recently revealed in an announcement that it has acquired another UK based trading service provider Marquee Oil Broking limited. In an announcement that was made public during Christmas eve, the firm mentioned that it has acquired Marquee Oil Broking Limited, a well known specialist provider of physical fuel oil broking services. This acquisition is a part of Marex Spectron’s continuous efforts geared at strengthening its capabilities in the physical energy and shipping markets. As part of this deal, along with the acquisition of the firm Marex Spectron will see four of its key executives join the firm effective immediately. The four incoming executives are – Mr. Adam Trehane the founder of Marquee Oil Broking Limited, a director and two senior brokers.
Marex Spectron Energy is currently one of the leading players in multiple energy markets with considerably market share in several major markets such as London, New York, Houston, Connecticut, Calgary, Oslo and Singapore. With this acquisition, the firm now gains a great deal of boost to its physical market capabilities with doors opening up for top tier physical gasoline and shipping franchises.
Commenting on this deal, Jeremy Ellioot – Managing Director of Energy at Marex Spectron said, “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”.
Earlier this year, the London headquartered world leading commodity broker revealed in an announcement the acquisition of another London based commodity business – CSC Commodities formerly owned by BGC European Holdings. This was first such acquisition made by Marex Spectron as part of its long term plans to develop its business in global energy market making. Marex Spectron’s global network is currently made up of its offices and subsidiaries located in North American and Asian market regions. However, it was made clear during the acquisition deal that CSC commodities will continue to operate independently within Marex Spectron’s network despite working towards expanding the group’s product and service offerings to a broader client base which deals in commodity derivatives. The firm also made headlines for appointing Mr. Carla Stent as a Non-Executive Chairman at the Group’s board earlier this year.
