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Marex Spectron Group (“Marex Spectron” or “the Company”) has agreed to acquire the Pro-Trader division of Schneider Trading Associates (“STA”) in a transaction that is expected to complete before the end of May 2012.
Marex Spectron’s Pro-Trader Services (“Pro-Trader”) is a division of the Company and is one of the largest providers of professional trader services in Europe. By acquiring and integrating STA’s Pro-Trader business into the Marex Spectron Pro-Trader division, we will create a leading global platform offering the most advanced execution and clearing services. The technology infrastructure developed by STA will be integrated into Marex Spectron’s Easyscreen platform (www.easyscreen.com), providing traders with an advanced technology platform, combined with the scale and resources of Marex Spectron’s global capabilities.
On completion, the Pro Trader division will serve in excess of 1,100 professional traders around the world and handle transaction volumes in excess of 200 million contracts per annum. By significantly scaling up the Pro Trader business we will be a powerful force in the major exchange-traded products and the largest clearer of the most actively traded contracts on Eurex.
Marex Spectron’s electronic trading and DMA services (of which the Pro Trader division is part) offers traders high performance delivery of trading solutions, global locations, and a choice of connectivity solutions based on where and what is traded.
Following the completion of the transaction, Ollie Jones, Head of Marex Spectron’s Pro-Trader division, will manage the business, supported by Steven Rose of Marex Spectron and Stephen Hills and Richard Brown of STA . Sonny Schneider, founder and Managing Director of STA will join Marex Spectron as Chairman of the Pro-Trader division management committee. Sonny will also work closely with John Lowrey, Global Head of Electronic Trading and DMA Services to support the strategic development of Marex Spectron’s global electronic offering.
Roger Nagioff, CEO of Marex Spectron said: “This transaction supports our objective of ensuring that all our business divisions are of sufficient scale and capability to offer our clients the most comprehensive service with a truly global foot-print. Our Pro-Trader business relies on our state of the art electronic platforms, with ultra-fast and robust infrastructure. We are continuously developing and enhancing our technology architecture to offer our traders the very best platforms from which to operate. By combining these two businesses, Marex Spectron will become one of the largest providers of Pro Trader services in the world. We look forward to welcoming Sonny, his team and STA’s traders to continue their trading success with Marex Spectron.”
