Macquarie Group, a provider of banking, financial, advisory, investment and funds management services, has entered into an asset purchase agreement to acquire the business and assets of US futures clearing firm, Shatkin Arbor.

Shatkin Arbor will be integrated into Macquarie’s existing US futures business, Macquarie Futures USA, significantly expanding Macquarie Futures’ capabilities by enabling it to directly execute and clear trades at both the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT). Financial details of the transaction were not disclosed.

Following a transition period, the business will be re-branded and operated as Macquarie Futures USA, with employees of Shatkin Arbor becoming employees of Macquarie.

Bill Marynissen, executive director and global head of Macquarie’s futures business, said: Shatkin Arbor complements Macquarie’s current US futures operations extremely well, giving us a strong and proven clearing platform for our growing efforts in the region. Adding this experienced team to our business will significantly expand our operations by enabling Macquarie Futures to directly execute and clear trades on both the CME and CBOT markets for our clients.