1. Introduction to Marex Spectron
30 June 2017

2. OVERVIEW
Marex Spectron is a world leading commodity broker (established in 2005) that has:
Unrivalled breadth of commodity market coverage across energy, metals and agricultural products
Over 500 experienced market professionals operating globally
Clearing on all major global exchanges - listed and OTC
Innovative technology solutions across trading, risk, data and research
Extensive live and historic market data services across commodity markets
Dedicated commodity market research and intelligence arms
Deep capital and liquidity reserves
Marex Spectron is regulated by the FCA in the UK, CFTC in the USA, SFC in Hong Kong and MAS in Singapore

3. 500+ 100 HISTORY Nov 2005 Marex Group Established Dec 2010 Acquired by
employees
500+
Nov 2005
Marex
Group
Established
Dec 2010
Acquired by
Current Shareholders
Jan 2011
Gains SFC License
Became a full US clearer for ICE Futures Inc. and CME Group Inc.
Feb 2011
Opened Hong Kong office
May 2011
Acquired Spectron Group
Jun 2011
Merged Group re-branded as “Marex Spectron”
Mar 2014
Capital Markets Services Licence granted by Monetary Authority of Singapore

4. GLOBAL ORGANISATION Brokering Services Clients
Bullion and Foreign Exchange
Energy
Environmental
Financial Futures & Options
Freight
Metals
Soft and Agricultural Products
Services
Clearing
Independent Research Services
Market Analytics
Markets Data
Voice and Electronic Execution
Clients
Asset managers
Banks
Brokers
Commodity producers
Commodity trading advisors
Consumers
Hedge funds
Professional traders
Oslo
Calgary
London
Frankfurt
Connecticut
New York
Houston
Hong Kong
Singapore

5. GLOBAL North America Europe Asia New York 360 Madison Avenue
Third Floor
NY 10017
Tel:
Connecticut
600 Summer Street
Stamford
CT 06901
Tel:
Houston
8 Greenway Plaza
TX 77046
Calgary
110-9th Avenue SW
Suite 440
T2P 0T1
Calgary, Alberta
Canada
Tel:
London | Head Office
Level Five
155 Bishopsgate
London EC2M 3TQ
Tel: +44 (0)
London | City
4th Floor
25 Copthall Avenue
London EC2R 7BP
Tel: +44 (0)
Frankfurt
Romerstrasse 31
63486 Bruchkobel
Germany
Tel:
Oslo
3rd Floor
Kronprinsesse Marthas
Plass 1
0160 Oslo
Tel:
Hong Kong
Suite 1107 ICBC Tower
11th Floor
3 Garden Road
Central, Hong Kong
Tel:
Singapore
8 Marina View
#33-06 Asia Square Tower 1
Singapore
Tel:

6. MARKETS

7. BREADTH OF COVERAGE Metals Energy Agriculture
Financial Futures & Options
Alloy
Aluminium
Cobalt
Copper
Gold
Molybdenum
NASAAC
Nickel
Palladium
Platinum
Silver
Tin
Zinc
Coal
Crude
Electricity
Freight derivatives
Iron ore
Natural gas
Petroleum products
Renewables
Cocoa
Coffee
Corn
Cotton
Rapeseed
Soybeans
Sugar
Wheat
Equities
Fixed Income

8. METALS
One of the largest metals brokers in the world, with extensive resources and product coverage, as well as being the largest transactor on the LME.
Overview
Base metals, precious metals and FX focus
Based in Europe, North America and Asia
24-hour coverage
Category-1 LME member and in terms of volumes, ranked first in LME Ring and first on LME Select
Leading electronic trading solutions for the LME
Market commentary and insight on base and precious metals markets
Coverage
Alloy
Aluminium
Cobalt
Copper
Gold
Molybdenum
NASAAC
Nickel
Palladium
Platinum
Silver
Tin
Zinc
Contracts
Forwards
Futures
Options
OTC warrants
OTC averaging
Spot
Execution
24 hour execution
Direct market access
Full LME algorithmic trading offering
LME Ring (Category 1 member)
Low-latency electronic platform
NEON execution platform
Voice FX

9. ENERGY
Leading energy broker, offering clients both voice and screen options, on and off-exchange, along with an extensive range of execution and clearing services.
Overview
Extensive energy market coverage
Based in Europe, North America and Asia
Number one desks across multiple products
Number one European energy franchise
Broking energy products since 1988
Market commentary and insight on various energy markets
Coverage
Coal
Crude
Electricity
Freight derivatives
Iron ore
Natural gas
Petroleum products
Renewables
Contracts
Block futures
Capacity
Index deals
On exchange futures
Options
Physical spot
Physical forwards
Swaps
Clearing
Exchange
OTC - voice
OTC - screen

10. AGRICULTURAL PRODUCTS
One of the largest and arguably the most experienced specialist teams in agriculture broking, with significant market share across many products.
Overview
Lead position across multiple agriculture markets
Global team of over 30 agricultural commodities specialists in Europe and North America
Execution and clearing on all major global agricultural contracts
In-depth fundamental research of agricultural markets, analysing supply and demand and global weather forecasting
Coverage
Cocoa
Coffee
Corn
Cotton
Rapeseed
Soybeans
Sugar
Wheat
Contracts
Exchange Floor
Futures - on exchange
Options - on exchange
Clearing
CME
ICE EUX
ICE US
MATIF
MGEX
NEON Trader
Trading Technologies

11. GLOBAL FINANCIAL FUTURES & OPTIONS
The Financial Futures and Options team provides clients with independent futures and options coverage across all major global exchanges.
Overview
Specialist voice broking
Covers both fixed income and equity index products
24 hour independent futures and options coverage on all major global exchanges
Sources new pools of liquidity on a daily basis
Intelligence-driven approach delivers differentiated options for clients
Major market share on several exchanges
Access to competitive pricing, order flows and trading ideas
Intelligence
Market themes analysis delivered in real time
Trade ideas generated for institutional and individual clients
Analysis of macroeconomic environment delivered weekly

12. CLEARING SERVICES
Extensive portfolio of clearing services across global futures and options markets. While many firms can clear major financial products, few have the same degree of expertise across every aspect of the commodity clearing and delivery cycle.
Dedicated Client Service
Global coverage from highly experienced operation executives
Round the clock service for all aspects of the execution and clearing cycle
Clearing Technology
Suite of algorithmic products for trade give-up allocation and clearing
Multi-product cross-margining and single consolidated reporting
Full integration into clients back office / risk platforms (Including FIX)
Full suite of trade date and trade date +1 reporting services
Offering of various account structures to suit client requirements
Delegated regulatory reporting offering
Our portfolio of clearing services across Global Futures & Options markets clears c.1m contracts daily

13. INTELLIGENCE

14. DATA SERVICES Indices Real Time Screen Data Daily price data
Marex Spectron’s market data is used by many thousands of energy professionals globally to monitor and analyze market prices. These services include, amongst others, real time price feeds, as well as daily price reports.
Indices
Range of proprietary indices on several key energy markets, including natural gas, electricity and oil markets
Real Time Screen Data
Live market screens for tracking energy or freight prices
High levels of functionality and user-friendliness
Real-time prices are also available via raw data feeds and apps
Daily price data
Closing price data for a wide range of energy, freight and environmental markets distributed in a variety of formats within minutes of the markets closing
Historical price data
Historical energy, freight and environmental markets data going back as far as 2000, including closing prices, trades (price, volume and time) and tick data (bids and offers)

15. MARKET ANALYTICS
Over the past five years, the Market Analytics team has developed Nanolytics® risk management tools to help clients manage risk around their fundamental views. Nanolytics® algorithms streamline vast amounts of exchange traded commodity data, to provide readily-accessible quantitative measures of the underlying liquidity profiles of each derivatives market. Every exchange message, order and transaction is aggregated and evaluated to generate a real-time measure of underlying supply and demand.
The analysis uses the highest level of data granularity and represents proprietary insights in the form of aggregated metrics. This provides clients with clarity on markets instead of the maelstrom of fragmented activity that they were previously presented with. The value is derived not only from the scale of the architecture, but also the techniques used to extract singular insight from many millions of individually irrelevant data points.

16. GLOBAL COMMODITY RESEARCH
Fundamental Research & Analysis
Global Commodity Research provides expert fundamental analysis on the energy, ferrous metals, agriculture and industrial transportation markets
Right Mix of Knowledge & Skills
A unique combination of real / physical market knowledge, advanced modeling techniques and strong links with the academic world has put the team at the forefront of market analysis in these sectors
Price Discovery & Fundamentals
Fundamentals ultimately drive price discovery for commodity markets. Frequently fundamentals are incorrectly priced by market forces or their impact is mistimed
Unique Research Platform
Ability to identify such dislocation in fundamentals in the most appropriate time frames, in turn revealing potential cross-market / cross-commodity arbitrage opportunities

17. TECHNOLOGY

18. ELECTRONIC TRADING Electronic Trading Solutions Offerings Support
Electronic trading solutions are available to any client seeking access to our 26 global DMA exchanges and deep liquidity pools
This is underpinned by in-house developed NEON technology and co-located global data centers and low latency network covering London, New York, Chicago, Hong Kong and Shanghai
Offerings
With a comprehensive FIX platform, clients can take their chosen OMS connection to our DMA exchanges, execution algorithms or our liquidity hubs
Support
Global e-Support team providing 24/6 coverage

19. NEON NEON Trading NEON Risk NEON Data
Marex Spectron has built and developed an advanced electronic trading, risk and data platform, NEON, which combines a number of proprietary services:
NEON Trading
DMA to global commodity and financial exchanges
Algorithmic commodity trading suites
Intelligent execution options
NEON Risk
Quantitatively and dynamically balancing risk limits Configurable risk parameters
Dynamically set and balance pre-trade risk limits
Real time margin and P&L
VAR/SPAN methodologies
NEON Data
Proprietary data
Exchange data feeds

20. VANTAGE VIEW SCREEN
Unrivalled access to proprietary data from the world’s liquid OTC markets, offering view screen access and trading screens to interact with the full spectrum of OTC products.

21. EXCHANGE CONNECTIVITY
North America
EMEA
Asia Pacific & Middle East
Chicago Board Options Exchange (CBOE)
CME Group US (CME, CBOT, NYMEX, COMEX)
ICE Futures Canada
ICE Futures US
Minneapolis Grain Exchange (MGEX)
Montreal Derivatives Exchange (TMX)
One Chicago
Borsa Italiana (IDEM)
CME Europe
Curve Global
EEX
EUREX
Euronext (Paris, Amsterdam, Lisbon, Brussels)
ICE ENDEX
ICE Futures Europe
London Metal Exchange (LME)
Mercado Español de Futuros Financieros (MEFF)
NASDAQ (Commodities)
NASDAQ (NFX)
NASDAQ OMX (Scandinavia)
NLX
OMIP
South African Futures Exchange (SAFEX)
The Derivatives Exchange (TURKDEX)
Warsaw Stock Exchange (WSE)
Australian Securities Exchange (ASX 24)
Bursa Malaysia (MDEX)
Dubai Gold and Commodity Exchange (DGCX)
Dubai Mercantile Exchange (DME)
Hong Kong Futures Exchange (HKFE)
Singapore Exchange (SGX)
Thailand Futures Exchange (TFEX)
Tokyo Commodity Exchange (TOCOM)
Tokyo Financial Exchange (TFX)
Tokyo Stock Exchange (TSE / OSE)

22. CORPORATE GOVERNANCE

23. ROBUST CORPORATE GOVERNANCE
Board of Directors
Non-Executive Chairman
Simon Heale
(Independent)
Non-Exec. Independent Chairman of the Board of KAZ Minerals plc., ex-CEO LME, ex-Non-executive director and Chairman of Panmure Gordon
Chief Executive Officer
Ian Lowitt
Executive Directors
Steve Sparke
Chief Operating Officer
Simon van den Born
Global Head of Metals
Hunter Baldwin
Managing Director, Energy & Head of US
Non-Executive Directors
Lord Stanley Fink (Independent)
CEO of International Standard Asset Management,
ex-CEO of Man Group
Jeremy Isaacs CBE
Co-Founding Partner, JRJ Group
Roger Nagioff
Joanna Nader
Vittorio Pignatti-Morano
Principal, Trilantic Capital Partners
Joe Cohen
Peter Kadas
Principal, BXR Partners
Daniel Hallgarten
Carla Stent
Director, MSC Consulting
Executive Committee
Ian Lowitt (CEO) (Chair)
Hunter Baldwin (Managing Director, Energy & Head of US)
Jeremy Elliott (Managing Director, Energy)
James Hearn (Head of Agriculturals) Steve Hills (Head of Pro Trader)
Ed Paget-Brown (Head of Legal & Compliance)
Yvonne Poole (Head of Group Human Resources)
Richard Reid (CRO)
Steve Sparke (COO)
Simon van den Born (Global Head of Metals)
Rob Watts (CFO)
Board Sub Committees
Audit & Compliance Committee
Carla Stent (Chair)
Joe Cohen
Daniel Hallgarten
Joanna Nader
Risk Committee
Stanley Fink (Chair)
Roger Nagioff
Vittorio Pignatti-Morano
Nomination & Remuneration Committee
Jeremy Isaacs (Chair)
Carla Stent
Simon Heale
Peter Kadas

24. Disclaimer
This document has been prepared by Marex Spectron for information purposes only. It may not be copied, distributed, published or reproduced in whole or in part without the prior written consent of Marex Spectron.
This document may contain general background and financial information about Marex Spectron’s activities current as at the date of this document. This document may also contain forward looking statements including statements regarding our intent, belief or current expectations with respect to Marex Spectron’s businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward looking statements which may be subject to change without notice. While reasonable care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside Marex Spectron’s control. Past performance is not a reliable indication of future performance.
The Marex Spectron® group of companies includes Marex Financial Limited, Marex Spectron International Limited, Marex North America LLC, Marex Hong Kong Limited, Marex Spectron Asia Pte Limited and Spectron Energy (Asia) Pte Ltd (individually and collectively “Marex Spectron”).
This document was approved by Marex Financial Limited (“MFL”). MFL is incorporated under the laws of England and Wales (company no and VAT registration no. GB ), is authorised and regulated by the Financial Conduct Authority (FCA registration number ) and is a member of the London Stock Exchange. MFL’s registered address is at 155 Bishopsgate, London, EC2M 3TQ.