Marex Spectron, a commodities dealer headquartered in London, introduced this Monday that it has accomplished the acquisition of the client enterprise of Rosenthal Collins Group LLC (RCG), an impartial Futures Fee Service provider (FCM).
Beneath the transaction, Marex Spectron has attained 14,000 shopper accounts and balances, in addition to 150 related workers and the corporate’s Chicago headquarters, the assertion stated. The acquisition was initially introduced on the 20th of December 2018.
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As Finance Magnates beforehand reported, RCG will proceed to function independently inside Marex Spectron’s community, which spans throughout the UK, North America and Asia. It is going to additionally develop the brokers US clearing providing to a big shopper base.
Though Marex Spectron has acquired RCG’s buyer enterprise, the corporate will preserve the RCG identify and model. Nevertheless, now, shoppers of RCG will now have a bigger product providing.
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Particularly, prospects could have entry to the brokers NEON buying and selling and danger platform, together with different applied sciences, direct entry to the London Steel Alternate and over-the-counter (OTC) hedging and funding merchandise by Marex Options.
As well as, as a part of the deal, the Chief Govt Officer of RCG, Scott Gordon, will probably be appointed because the vice chairman of the brand new RCG division of Marex Spectron. Moreover, the futures dealer’s Chief Monetary Officer Jason Manumaleuna will take the position of the brand new unit’s CEO.
Marex Spectron continues on its acquisition spree
The commodities brokerage seems to be on an acquisition spree. Only some weeks in the past in January, the Group additionally introduced that it had bought the commodities enterprise of London-based BGC European Holdings, CSC Commodities.
Much like the RCG deal, CSC Commodities continues to function independently throughout the Marex Spectron community post-acquisition and can assist span the dealer’s providing to a bigger shopper base and permit it develop its enterprise of offering vitality market making.
Earlier than the completion of the transaction CSC Commodities employed 15 workers throughout its London, New York and Gibraltar workplaces.