Marex completes acquisition of HPC SA and OTCexFebruary 2, 2023
Marex is pleased to announce that it has completed the acquisition of select entities from OTCex Group. This deal, which includes HPC SA, OTCex Hong Kong and OTCex LLC, was first announced in June 2022. The addition of HPC/OTCex strengthens Marex’s capabilities in Equities, Structured Products, Fixed Income and Commodities.
Headquartered in Paris, the HPC/ OTCex businesses have operations in London, Dubai, Hong Kong, New York, Paris, Lisbon and Tel-Aviv. These businesses and over 200 employees are now part of Marex Group. As part of the transaction the OTCex and HPC brands (including HPC Investment Partners) will be transferred to Marex.
Fred Metz, CEO of HPC/OTCex, commented: “This is an exciting time for all of us and a great opportunity for HPC/OTCex. We look forward to a bright future as part of an innovative, profitable and growing global group.”
Ian Lowitt, CEO of Marex, commented: “The acquisition represents further delivery against our strategy of building out our product offering and geographic footprint, adding around 800 new clients to our franchise. The acquired entities complement and expand our equity and fixed income offerings, whilst adding to our leading energy and agricultural commodities franchises. With access to our global infrastructure and balance sheet, we are confident that together we can continue to deliver sustainable growth and better serve our global client base.”
OTCex Group is the product of two mergers. The first was in 2005 between Paresco, a French investment firm broking listed equity and interest rate products and HPC, a European broker operating mainly in money and interest rate markets. This entity then merged in 2006 with OTCex, an inter-dealer broker specialising in index and single stock options.
Since its foundation, OTCex Group’s strategic focus has always been to bring together market expertise with very strong business fits in order to create a multi-product brokerage service on an international scale. These successive mergers have brought OTCex Group a client base of over 800 institutions, including banks, asset managers, fund managers, hedge funds and market makers. OTCex is a French Financial company authorised and regulated by Autorité de Contrôle Prudentiel et de Résolution, as well as by Autorité de Marchés Financiers. HPC is a French investment firm authorised and regulated by Autorité de Contrôle Prudentiel et de Résolution, as well as by Autorité de Marchés Financiers. HPC has the authorisation to operate as an EU Organised Trading Facility (OTF), and its subsidiary HPC Investment Services has he authorisation to operate as a UK Organised Trading Facility. otcexgroup.com