Marex Spectron Signs an Agreement to Acquire X-Change Financial Access

Marex Spectron, a global commodities broker with head office in London, announced today that it has signed an agreement to buy Chicago-based X-Change Financial Access (XFA), in an effort to grow its North-American business.

In an official press release, Marex announced that the company is expanding its product range through the fast-growing 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-traded derivatives Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term broker. According to the announcement, during the first three quarters of 2019, XFA accounted for more than 50% of all the volumes in S&P 500 index options.

Founded in 2001, XFA has headquarters in Chicago with a presence in New York and San Francisco. XFA provides a wide range of services to its clients including market information, strategic data, futures execution and direct market access. Marex plans to provide XFA clients with different products and services after the acquisition.

Commenting on the acquisition, Ian Lowitt, Chief Executive of Marex Spectron, said: “XFA is a very exciting addition to our business. This acquisition will be an important building block in our plans to expand in North America, which is our fastest-growing region. XFA is an exceptional fit, adding new products to our service offering.”

“The acquisition creates opportunities to cross-sell our products, including clearing services, and Marex can support XFA's geographic expansion. XFA has a very impressive track record built on its extensive market experience, with an excellent brand and dominant share across multiple products. We are adding a great team, serving a sophisticated and demanding client base, with outstanding trading and support, and highly experienced and effective management,” he added.

New Hires

Finance Magnates reported earlier about recent management changes at Marex. The company lured Philip Price to join as Head of Ferrous Metal Trading. Additionally, Marex appointed Ram Vittal to take charge of the company’s North American operations earlier this year. Upon completion of the transaction on 13 November, XFA will be a part of Marex Spectron’s North American franchise, and it will report to Ram Vittal.