Marex Spectron today announced the acquisition of London-based Tangent Trading Ltd (‘Tangent Trading’), a leading scrap metals trading firm.
Founded in 1985, Tangent Trading specialises in non-ferrous scrap metals trading, with a focus on copper and aluminium markets. A long-term member of the London Metal Exchange, Tangent Trading has an international network of customers and suppliers across Asia, Europe and North America.
Tangent Trading will continue under the leadership of Darren Leigh and Robert Borland, who join Marex Spectron’s global metals franchise, which boasts one of the most experienced teams and broadest product ranges across base, precious and ferrous metals worldwide.
Ian Lowitt, Marex Spectron Chief Executive, commented: “The scrap metal market is a new and exciting direction for our business as we continue to invest in and grow our market-leading metals franchise. This acquisition is part of a strategy focusing on expanding our offerings and developing our business in sustainable commodity sectors. We believe the recycled metal markets are poised for growth as environmental sustainability becomes more important to clients. Given the scale of our global network and balance sheet, there are significant opportunities to further develop the Tangent Trading business – making it an excellent fit for Marex.”
Darren Leigh, CEO of Tangent Trading added: “We are excited to join the Marex Spectron family. Not only will we have access to new technologies and services, we will be in a great position to further enhance, strengthen and expand our global offering.”
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Notes to Editors:
About Marex Spectron
Marex Spectron is a leading global commodities specialist providing clients with extensive access to financial and physical markets across Metals, Agriculture and Energy. The firm provides comprehensive breadth and depth of coverage across four core services: Market Making, Commercial Hedging (both on exchange execution and clearing, and OTC derivatives), Price Discovery and Data/Advisory. It has the dominant franchise in many major Metals, Energy and Agricultural products, executing around 31 million trades a year and clearing over 183 million contracts. The firm provides access to every major commodity market in the world, covering a broad range of clients that include the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex Spectron was formed in May 2011, following the integration of Marex Financial and Spectron Group but boasts a long history in commodities that spans almost 100 years.
Headquartered in London, Marex Spectron has 14 offices worldwide, with over 700 employees across Europe, Asia and America.
For more information visit www.marexspectron.com
About Tangent Trading Ltd
Tangent Trading is an experienced international non-ferrous scrap metal specialist, with expert trading skills and extensive geographical reach. Based in London, the company trades copper, aluminium, brass and stainless steel scraps.
With direct connections to significant sources of supply and a tried and trusted network built up over 34 years of trading, Tangent Trading has the buying power to source metals successfully across 5 continents.
A long-term member of the London Metal Exchange, Tangent Trading holds the necessary accreditations and approvals for the international movement of non-ferrous scrap including an AQSIQ license to ship scrap metals to China.