Marex Freezes Radiant Accounts
Commodities broker Marex Group has frozen accounts belonging to Radiant World following concerns over invalid invoices used to raise funds. Counterparties increased scrutiny on the trader as the broker halted derivatives trading support for the firm.
Insights:
Commodities broker Marex Group has frozen all accounts held by iron ore trader Radiant World following allegations of invalid invoices, two people familiar with the matter said on Tuesday morning.
The freeze halts derivatives trading services provided by the United States-listed broker. Radiant has faced heightened scrutiny from banking counterparties in recent weeks over documentation provided to secure financing.
