Marex Spectron Selects OptionsCity Metro Platform

Marex Spectron has deployed OptionsCity’s Metro platform to ‎extend its trading technology offering in the European market

London-headquartered commodities broker Marex Spectron Group Ltd (Marex Spectron) ‎has selected OptionsCity’s Metro, a low-latency futures and ‎options trading platform deployed seamlessly via the web, to promote‎ its market-making ‎architecture, according to a company statement.‎

OptionsCity Software is a Chicago-based provider of futures and options trading and ‎analytics solutions since 2008. The company ‎updated its Metro platform in late October, to offer an in-between option to ‎building or buying new software, and introduced Metro Now, which allows users ‎to download task-specific widgets in the platform. ‎

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The risk management team of Marex Spectron will utilize Metro’s valuation ‎models and post-execution tools to evaluate and monitor its risk on a continuous ‎real-time basis. The modular architecture of Metro will allow Marex to scale its usage ‎of the platform and automate its processes as business continues to grow.

‎”After extensive research, we chose OptionsCity Metro for its intuitive ‎out-of-box features delivered on a low-latency architecture,” said Nick Benson, ‎the Chief Technology Officer of Marex Spectron.

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“In addition, Metro’s modular ‎architecture gives us the ability to extend the platform and build custom algorithms ‎and apps,” he added.‎

‎”We are pleased to acquire yet another customer in London where we are seeing an ‎increased demand for an innovative options trading software like Metro,” said Dan ‎Rooney, VP of Global Sales at OptionsCity Software.

Squeezed Industry

Marex Spectron was formed through a merger of metals and oil brokerage firms in ‎‎2011 and is majority owned by British private equity house JRJ Group. Since 2012, ‎the company has cut its headcount by roughly a sixth to just above 500, focusing on its ‎core energy and metals business and benefiting from many banks pulling back from ‎commodities dealing.

‎Earlier last month, the company which specializes in voice broking and also offers ‎electronic and on-exchange dealing, reported a record operating profit of $22.7 million for ‎its 2015 year. Gross revenues amounted to $348 million, down $20 million from the $368 ‎million reported in 2014, but costs had been reduced by $29 million which helped drive operating profits to a ‎record.

‎Revenues in the commodities broking sector were in general squeezed since the 2008 global ‎crisis due to harsh regulations and the overall shift to electronic trading, leading some to ‎questions about the future of the industry.‎

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