Last One out Turn off the Lights: Marex Spectron Closes FX Business
- Marex Spectron, the multi-asset brokerage house has decided to terminate its FX operations, following a rut of underwhelming revenues and volumes and an exodus of key executive personnel to GAIN Capital.
Marex Spectron, the Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term brokerage house, has decided to terminate its FX operations following a rut of underwhelming revenues and volumes and an exodus of key executive personnel to GAIN Capital.
Times are tough in the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry with waning volumes and revenues – with many firms and brokers facing tightened profit margins or investor pressure, many have been forced to restructure their business, with Marex Spectron being no exception.
According to a recent public statement issued by Marex Spectron, "The demand for FX services has contracted across the industry. FX is not a core business for Marex Spectron and it was an immaterial element of our revenue stream.” Marex will instead consolidate its operations and will focus its efforts on core business activities instead – however, the broker has reiterated it will continue to offer FX hedging services, albeit relegated to core commodities clients.
As recently as this month, Marex hired Chris Harland to head its FX Sales and Trading team. This move was apparently not enough to allay a downturn in volumes for the broker, which was perhaps exacerbated by the outflow of talent in departing Paul Spillman, Peter Snasdell and Keith Mash, all of whom now work at GAIN Capital.
Marex Spectron, the Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term brokerage house, has decided to terminate its FX operations following a rut of underwhelming revenues and volumes and an exodus of key executive personnel to GAIN Capital.
Times are tough in the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry with waning volumes and revenues – with many firms and brokers facing tightened profit margins or investor pressure, many have been forced to restructure their business, with Marex Spectron being no exception.
According to a recent public statement issued by Marex Spectron, "The demand for FX services has contracted across the industry. FX is not a core business for Marex Spectron and it was an immaterial element of our revenue stream.” Marex will instead consolidate its operations and will focus its efforts on core business activities instead – however, the broker has reiterated it will continue to offer FX hedging services, albeit relegated to core commodities clients.
As recently as this month, Marex hired Chris Harland to head its FX Sales and Trading team. This move was apparently not enough to allay a downturn in volumes for the broker, which was perhaps exacerbated by the outflow of talent in departing Paul Spillman, Peter Snasdell and Keith Mash, all of whom now work at GAIN Capital.