Global commodities broker Marex Spectron has just completed the acquisition of the Irish energy broker Energy Broking Ireland Limited (EBI).
Marex Spectron has returned to FX markets with a new platform back in October 2018. Last month, the broker announced another acquisition of Rosenthal Collins Group’s customer business.
Marex Spectron started the acquisition process last month, just one day after completing the acquisition of commodity trading firm CSC Commodities UK Limited (CSC) from BGC European Holdings LP.
EBI will now become part of Marex Spectron’s new Dublin entity, Marex Spectron Europe Limited.
Ian Lowitt, CEO of Marex Spectron, commented:
We are delighted to add Energy Broking Ireland to our energy business. We are growth orientated and keen to grow into adjacent spaces where we see good new opportunities. With EBI not only do we gain a quality team with exciting plans, we also expand our European coverage into the Irish gas and power markets.
EBI was established in 2015 to offer an over the counter broking service to wholesale buyers and sellers of gas at the Irish Balancing Point (IBP), using an electronic trading platform and the option of voice broking. Today, almost all of the largest buyers and sellers of gas in Ireland trade on the EBI platform.