Marex Spectron Completes Acquisition of Futures Broker RCG

Marex Spectron, a commodities broker headquartered in London, announced this Monday that it has completed the acquisition of the customer business of Rosenthal Collins Group LLC (RCG), an independent Futures Commission Merchant (FCM).

Under the transaction, Marex Spectron has attained 14,000 client accounts and balances, as well as 150 associated staff and the company’s Chicago headquarters, the statement said. The acquisition was originally announced on the 20th of December 2018.

As Finance Magnates previously reported, RCG will continue to operate independently within Marex Spectron’s network, which spans across the United Kingdom, North America, and Asia. It will also expand the brokers US Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term offering to a large client base.

Although Marex Spectron has acquired RCG’s customer business, the company will maintain the RCG name and brand. However, now, clients of RCG will now have a larger product offering.

Specifically, customers will have access to the brokers NEON trading and risk platform, along with other technologies, direct access to 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 and over-the-counter (OTC) hedging and investment products through Marex Solutions.

In addition, as part of the deal, the Chief Executive Officer of RCG, Scott Gordon, will be appointed as the vice chairman of the new RCG division of Marex Spectron. Furthermore, the futures broker’s Chief Financial Officer Jason Manumaleuna will take the role of the new unit’s CEO.

Marex Spectron continues on its acquisition spree

The commodities brokerage appears to be on an acquisition spree. Only a few weeks ago in January, the Group also announced that it had purchased the commodities business of London-based BGC European Holdings, CSC Commodities.

Similar to the RCG deal, CSC Commodities continues to operate independently within the Marex Spectron network post-acquisition and will help span the broker’s offering to a larger client base and allow it develop its business of providing energy market making.

Before the completion of the transaction CSC Commodities employed 15 staff across its London, New York, and Gibraltar offices.