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Marex acquires French grain futures broker Arfinco

By Reuters

PARIS – Commodity broker Marex Group said on Tuesday it had acquired French firm Arfinco in a move to expand its presence in the European Union’s biggest grain-producing country.

Founded in 2006, Arfinco provides brokerage services for trading grain futures and options on Euronext, CME Group’s Chicago Board of Trade and Intercontinental Exchange.

It will integrate Marex’s agricultural business led by Jonathan Parkman, Marex said in a statement.

Financial terms were not disclosed.

The takeover of Arfinco follows other deals by Marex including last year’s acquisition of commodity derivatives firm Volcap Trading, it said.

London-based Marex is one of the world’s largest privately-owned commodities brokers. It had planned an initial public offering but dropped the project last June due to difficult market conditions.