MAREX SPECTRON ANNOUNCES CSC ACQUISITION FROM BGC
21 January 2019 - Marex Spectron, the global commodities broker, today announced that it has completed the acquisition of commodity trading firm CSC Commodities UK Limited (‘CSC’) from BGC European Holdings LP.
London-based CSC specialises in on-exchange commodity derivatives, making markets and trading oil related derivatives across the barrel, from crude oil to fuel oil, distillates and light ends, alongside freight, natural gas and agricultural markets. Its trading strategies largely focus on arbitrage and flow dislocations, as well as fundamentals and momentum trading.
The 15 person business, which has teams in London, New York and Gibraltar, was established in 2013 by Bastien Declercq and Alan Newman.
CSC will continue to operate under its existing brand name and through the entity CSC Commodities UK Limited.
Ian Lowitt, Chief Executive of Marex Spectron, commented: “Acquiring CSC is an exciting development for Marex Spectron that adds a successful energy market making and trading team with an impressive long-term track record. They are a great fit with our existing businesses in Metals and Agriculture where we have industry leading market making franchises, and there are exciting opportunities to develop the business into new markets.”
Bastien Declercq, Chief Executive of CSC, added: “We are delighted to be joining Marex Spectron; it’s an excellent fit for our business. As part of a world leading commodity focused business, we gain access to a new range of products, infrastructure and geographies that will help us expand our business and diversify our operations.”