Marex Acquires Cowen – Takes Part of its Trading Business

Marex, a commodities specialist and diversified global financial services platform, has recently completed its acquisition of TD Cowen‘s outsourced trading and prime brokerage business. This acquisition, first announced in September, signals Marex’s intent to expand its capabilities and diversify its service offerings.

Marex’s Growth Trajectory

Marex founded itself to offer liquidity, provide market access, and offer infrastructure services in the energy, commodities, and financial markets. The acquisition of Cowen’s prime brokerage and outsourced trading business is a continuation of this growth, particularly following Marex’s formation of its Capital Markets business in 2022 through the acquisition of ED&F Man Capital Markets.

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Benefits to Clients and Market Impact

Jack Seibald and Mike Rosen, who have led the business since the mid-1990s, highlight the advantages this acquisition offers clients.

They highlight opportunities for cross-collaboration, leveraging its presence in futures, commodities, and its global footprint.
This acquisition will expand our service range and penetrate emerging and mid-tier hedge fund markets.

Marex’s Strategic Acquisition of Cowen’s Business

The decision to divest Cowen’s business to Marex was strategic, ensuring alignment with the platform’s geographical and strategic orientation. Marex’s acquisition was chosen for its commitment to expansion and for embracing the business as a whole.

New Opportunities

This acquisition opens the door for new collaborative opportunities. For example, Marex’s presence in Asia and the Middle East offers new market access for the outsourced and prime business of TD Cowen. The firm expects this collaboration to broaden commodities exposure for its existing energy hedge fund clients, thereby diversifying their trading options.

Future Focus

Moving forward, Marex aims to centralize its focus on prime services and outsourced trading. The alignment in philosophy, customer base, and growth aspirations between Marex and the acquired business suggests a promising future. Marex’s entrepreneurial spirit and desire for growth were key factors in this acquisition.