Marex Spectron Upgrades Clearing Offering with New Platform

Global commodities brokerage Marex Spectron has launched a new clearing and Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term platform, which will be exclusively focused on the wholesale market, including banks, funds, asset managers, corporates, and trading groups.

Dubbed ‘Marex Clearing Services,’ the new unit replaces the Pro-Trader division, which will be closed before the year-end. Marex acquired this clearing franchise from London based Schneider Trading Associates back in 2012.

At the time, the combined group was servicing over 1,100 professional traders and transacting more than 200 million contracts per year. While the bulk of Pro-Trader’s existing clients now moved into Marex Clearing Services, smaller accounts will transfer to Tower Trading Group (TTG), one of Marex’s long-term clearing clients.

Marex said the new platform reflects its refocus on high volume, wholesale participants as well as changing regulatory and market dynamics. The new business encompasses connectivity and infrastructure, positioning across multiple markets and global exchanges, as well as bespoke clearing technology.

Marex expands with new acquisitions

Marex has expanded aggressively since being taken private in 2010 by JRJ Ventures, the private equity group founded by former Lehman executives Roger Nagioff and Jeremy Isaacs. The past year saw Marex Spectron also solidify its ‎position across global commodities markets, including ‎seeing its volumes maintain the top spot on the London ‎Metal Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (LME), as well as on the LME Select ‎electronic platform. In terms of the energy sector, the ‎group was a top-three broker across agriculture, including ‎soft commodities.‎

Earlier in January, Marex Spectron, which also has a global network spanning across North America and Asia, acquired the commodities business of London-based BGC European Holdings, CSC Commodities. The deal came a few weeks after it signed an agreement to acquire the customer business of futures brokerage Rosenthal Collins Group (RCG).

Commenting on the news, Ian Lowitt, Chief Executive Officer of Marex Spectron, said: “Marex Clearing Services solidifies our end-to-end offering in the wholesale space, by combining the breadth of our clearing and execution services, with the strength of our balance sheet and investment grade rating. It is a world leading offering and is an important step in the execution of our longer-term strategic vision.”