Marex Solutions, the over-the-counter (OTC) derivatives arm of Marex Spectron, announced this Thursday that it has launched its dedicated US OTC hedging entity, Marex Spectron USA, LLC.
According to the statement, the expansion of Markets Solutions into the US market is a “natural progression,” as the Marex Spectron group already has a long-established presence in the country with its US broking business in its FCM Marex North America LLC.
However, by establishing its own separate entity for its OTC hedging, it allows the company to expand the products and services that it can offer to its customers based in the United States.
Commenting on the announcement, Eugene Faller, Head of Commodity Solutions at Marex Solutions, said: “The launch of our new US arm is an exciting new development for our business and brings our class leading technology to a new customer base.”
“The additions of Scott and Nick adds a huge amount of knowledge and agricultural hedging expertise in the US, and ties in well with the Marex Spectron and RCG agricultural franchises.”
Scott Shellady joins Marex Solutions
The launch of the new entity coincides with the appointment of Scott Shellady, who joins the company to focus on US Agricultural Commodity Sales. He joins the company with almost three decades worth of experience in US agricultural trading circles.
Based in Chicago, Shellady joins the OTC derivatives business from TJM Europe, where he was Managing Director. During his career, he has also worked for Trean Group and Shellady Commodities, amongst other companies over the past 30 years.
Shellady won’t be alone in his new role, as he will work alongside Nicholas Burke. As FortuneZ reported, Burke joined Marex Solutions back in July of this year, leaving his position as a director of OTC agriculture sales in Societe Generale to focus on US Agricultural Commodity Sales.
“Together they will be leading the development of a comprehensive agricultural offering across the value chain, with Scott focusing on producers and Nick on corporate and institutional customers,” the statement released today said.