London-headquartered commodities broker Group Ltd, which also has a global network spanning across North America and Asia, has acquired the commodities business of London-based BGC European Holdings, CSC Commodities.
The purchase will allow Marex to press on with long-term plans to develop its business of providing energy market making. CSC Commodities, which will continue to operate independently within Marex Spectron’s network, will expand the group’s offering to a broader client base that deals in commodity derivatives, including oil related derivatives and agricultural markets.
Established 5 years ago by Bastien Declercq and Alan Newman, CSC employs 15 staff at its London, New York and Gibraltar offices.
Marex Solidifies its Position
The past year saw Marex Spectron across global commodities markets, including the expansion of its footprint across North America and Asia. The group has recently developed new metals products for Singapore and strengthened existing European franchises. Last month, it has signed an agreement to acquire the customer business of futures brokerage The deal is expected to complete in January 2019.
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.”
Be First to Comment