Marex Spectron Expands Metals Trading Business with New Hires

Marex Spectron has lured Phillip Price to join the global commodities brokerage as Head of Ferrous Metals Trading as it accelerates the expansion of its business lines.

Price is joining the brokerage’s metals derivatives franchise, tasked with further building Marex Spectron’s market making and trading business across different sectors while also overseeing the day-to-day operations globally. He joins Marex with over 12 years of experience to enhance its derivatives team, with the group eyeing a broader focus and growth in different regions.

Price recently served as a founding partner and CEO of Ferrometrics LLC, a company that specialises in developing Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in nascent derivatives markets. He was also deputy chairman of the London Metal Exchange Steel Trading Committee and works closely with other exchanges, including SGX, CME Group and Nasdaq.

Over the course of his career, Price designed a wide variety of derivatives-backed strategies and held senior roles including his stint as head of Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and derivatives trading at Stemcor.

“Phillip brings a wealth of knowledge and exceptional experience in ferrous metals to the firm. He is well regarded in this space and is an ideal person to lead our ferrous team as we strengthen our ferrous metal capabilities,” said Simon van Den Born, President of the Group.

“Joining Marex Spectron’s metals team was a natural step for me. This new role provides a great opportunity to expand Marex’s client offering and make a real contribution to a growing franchise,” Price added.

Consistent with other firms in the sector, Covid-19 has been a challenge, with 90 percent of Marex’s staff working from home, the CEO revealed.

However, one of the biggest contributors to the strong results this year was Marex’s takeovers spree. Most recently, it concluded the purchase of Marquee Oil Broking Limited, a provider of physical fuel oil broking services, which was the latest consolidation in a sector squeezed by rising competition and smaller margins.