MAREX SPECTRON ‎

The transaction is expected to close on 13 November as the broker looks set to boost its North American presence.

Texier has recently served as COO and managing director for R.J. O’Brien & Associates (RJO) in London.

He will be based in New York and report to the Group CEO.

Marex Spectron posted a total of $554.9 million worth of gross revenues, up 43.0 percent year-over-year.

Dubbed ‘Marex Clearing Services,’ the new unit replaces Pro-Trader division, which will be closed before year end.

The company also appointed Scott Shellady, who will focus on US Agricultural Commodity Sales.

Gill joins the firm after nine years with Société Générale.

The duo parted ways with Societe Generale after it closed its OTC commodities business in April.

Profit before tax also increased by 80 per cent year-on-year.

Stent will replace Simon Heale, who stood down from the role in December.

Under the transaction, Marex Spectron has attained 14,000 client accounts and balances.

The purchase will allow Marex to press on with long-term plans to develop its business of energy market making.

The court proceedings will start from next week in London High Court.

RCG's CEO Scott Gordon will be appointed vice chairman of the new Marex Spectron RCG division.

The forex and precious metal spot trading platform is targeted toward institutional investors.

Marex Spectron's ‎net revenue was reported at $245.6 million in 2017‎.

The past year saw Marex Spectron also solidify its ‎position across global ‎commodities markets‎.

The new entity intends to provide new technologically innovative derivative hedging solutions for its clients.

Two new banks will expand Marex Spectron's working capital facility to $105m from $65m.

Marex Spectron reported record earnings, having also seen its core commodities business retain its strength.

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