Marex Spectron joins ECC and ICE ENDEX as General Clearing Member for Power and Gas ClearingJuly 28, 2016
LONDON, 28 July, 2016 – Marex Financial Limited, a subsidiary of global commodities broker Marex Spectron Group Limited, has become a member of European Commodity Clearing (ECC), a central clearing house for energy and related products in Europe, and ICE Endex, Intercontinental Exchange’s continental European energy exchange for natural gas and power markets.
The admission to ECC will allow Marex Financial to provide clearing services for all ECC Non-Clearing Members while membership of ICE Endex authorises Marex Financial to clear trades on that exchange on behalf of its clients or other trading participants.
The ECC license covers all products and markets settled by ECC, which includes transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Gaspoint Nordic, NOREXECO, Powernext, Power Exchange Central Europe and SEEPEX.
Jeremy Elliott, Energy Managing Director, Marex Spectron, said: “Becoming a member of ECC and ICE Endex is a critical step in developing the service that we provide our clients, and the extension of our existing commodity clearing services to European power and gas reflects our deep commitment to these markets.”
Marex Spectron’s portfolio of global clearing services processes around 1 million contracts daily.
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About Marex Spectron
Marex Spectron is a leading global commodities brokerage, with significant market share of many major Agricultural, Metal and Energy products. Headquartered in London, Marex Spectron’s extensive international networks cover Europe, Asia and North America markets.
State-of-the-art electronic and voice broking services facilitates all types of trading strategies. This is backed by decades of experience, with Marex Spectron placing great emphasis on intellectual knowledge and insight, alongside access to extensive data sets and the latest analytical tools.
Clients are commodity producers and consumers, banks, hedge funds, asset managers, brokers, commodity trading advisors and professional traders.
Global exchange memberships include, amongst others, the London Metal Exchange (LME), CME Group, EEX and Intercontinental Exchange (ICE).
Marex Spectron is regulated in the UK by the FCA, in the US by the NFA and CFTC, in Hong Kong by the SFC, and in Singapore by the MAS.