BREAKING NEWS

BREAKING NEWS

Marex Spectron buys London-based trader CSC Commodities

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LONDON (Reuters) - Commodities broker Marex Spectron has bought London-based trading firm CSC Commodities from BGC European Holdings, Marex said on Monday without disclosing how much it paid.

CSC Commodities, which has offices in London, New York and Gibraltar, deals in on-exchange commodity derivatives, makes markets and trades oil products, natural gas, agricultural markets and has a freight business, Marex said in a statement.

"Its trading strategies largely focus on arbitrage and flow dislocations, as well as fundamentals and momentum trading," Marex said.

Reuters reported in September that privately-held Marex was itself the target of a takeover from Chinese conglomerate Fosun International <0656.HK>

(Reporting by Eric Onstad; Writing by Zandi Shabalala; Editing by David Goodman)

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