Marex Spectron signs agreement to acquire customer business of Rosenthal Collins Group

Maria Nikolova

Via the acquisition of the RCG FCM business, which is expected to complete in January 2019, Marex Spectron will maintain the RCG name and brand.

London-based commodities broker Marex Spectron today announces that it has agreed to acquire the customer business of Chicago-based Rosenthal Collins Group LLC, one of the world’s leading Futures Commission Merchants (FCMs) offering trading execution, clearing, brokerage, institutional foreign exchange (FX), managed futures and a full range of electronic trading services.

Via the acquisition of the RCG FCM business, which is expected to close in January 2019, Marex Spectron will maintain the RCG name and brand, gain 14,000 client accounts and balances, 150 associated staff and the Chicago headquarters. RCG has little overlap with Marex Spectron’s existing North American business, which operates out of New York, Calgary, Connecticut and Houston.

Marex Spectron promises to RCG clients that they will retain the excellent service model they currently enjoy and will also have access to new products and capabilities, including:

  • A more extensive global exchange network of cleared exchanges via Marex Spectron’s global network.
  • Direct access to London Metal Exchange, where Marex Spectron is a leading Category One member.
  • New proprietary technologies and tools, including Marex Spectron’s NEON trading and risk platform.
  • Marex Spectron’s extensive agricultural, metals and energy research.
  • Over-the-counter (OTC) hedging and investment products across all asset classes through Marex Solutions.
  • Marex Spectron’s larger balance sheet and investment grade rating.

Regarding the rationale for the deal, Marex Spectron explains that the acquisition will enhance Marex Spectron’s business, with the addition of RCG’s history, brand, expertise, large client base and extensive introducing broker network. The deal is also set to expand Marex Spectron’s agriculture business, which is based in London and New York, and has historically been more focused on sugar, cocoa and coffee markets, with the addition of RCG’s presence in grains and livestock. Furthermore, the deal will take Marex Spectron’s US clearing offering to a broader client base.

Upon completion of the deal, Scott Gordon, RCG’s Chairman and Chief Executive Officer, will become Vice Chairman of the new Marex Spectron RCG division, and Jason Manumaleuna, RCG’s President and Chief Financial Officer, will be named Chief Executive Officer of the Marex Spectron RCG division.

Barclays is acting as exclusive financial advisor to RCG on the sale to Marex Spectron.

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