Marex Spectron, the leading global commodities broker, has announced that Bank Leumi (UK) has joined Lloyds Bank in its working capital facility, matching the $25 million originally committed by Lloyds and bringing the total size of the facility to $50 million.
Ian Lowitt, Marex Spectron’s chief financial officer, said: “We are delighted to have Bank Leumi on board. The facility enables us to meet the rising demands of our clients in our core commodity businesses and its success reflects our conservative approach to capital and liquidity management.”
The facility is designed to support the firm’s growth at a time when banks and other competitors are leaving the industry, creating opportunities for Marex Spectron.
Consistent with the announcement of the facility, Bank Leumi (UK) joined through a syndication process led by Lloyds Bank.
For further information please contact Richard Lindsay at Marex Spectron on +44 (0)20 7650 4091 or rlindsay@marexspectron.com
ABOUT MAREX SPECTRON
Marex Spectron is one of the world’s largest privately held brokers of financial instruments in the commodities sector and a leader in facilitating trade in physical energy products.
We are the conduit for clients transacting in raw materials and related derivatives. We do so efficiently, discretely and with confidence, on or off-exchange.
We provide liquidity in commodity markets that are frequently difficult for clients to access or that require specialist knowledge to navigate successfully.
We connect our clients to any of the world’s major commodity exchanges via state of the art networks. We provide a full suite of services to trading companies who need to outsource infrastructure and support operations.
We also broker financial futures and options, foreign exchange, fixed income and equity securities.
Our aim is to provide our clients with a global, integrated service that enables them to trade how they want to trade: by voice, on electronic platforms or through trading floors where possible.
Our clients are predominantly commodity producers and consumers, banks, hedge funds, asset managers, brokers, commodity trading advisors and professional traders.
We are members of the London Metal Exchange (where we are a Ring Dealer), the CME Group exchanges, ICE US, NYSE Liffe, ICE Futures and Eurex.
We are 600 market professionals, headquartered in London with offices across Europe, North America and Asia.