Xpansiv, Xpansiv CBL Holding Group Limited, the global market for Intelligent Commodities™, announced today that it had acquired Project OTX Limited, OTX.
OTX was founded in 2013 as the first company to introduce electronic brokerage to the CSO banknote market. Now it is one of the leading market access providers in the CSO space. Today, OTX provides voice and electronic market access to hundreds of customers in 27 countries and has established a strong dialogue with competent authorities across Europe. Building on the excellent relationship with its customer base, OTX is also rapidly expanding into other non-liquid commodity markets, including renewable fuels.
OTX operates from London and Milan.
In 2014, the firm developed and launched the first electronic platform for the exchange of CSO tickets.
The Two Companies Look Forward to Expanding in Global Commodity Products
The OTX acquisition marks Xpansiv’s formal entry into the UK and Europe. These companies have similar customer bases; they seek solutions in the energy transition. They will benefit from access to an ESG-centric platform that will incorporate conventional and bio-based fuels.
Nathan Rockliff, Xpansiv Chief Strategy Officer, stated that this move was an exciting new chapter for the company. It gets ready to enter the global fuels market. Moreover, there are multiple synergies between these companies, and we are expanding their potential, Rockliff said.
According to Joe Madden, Xpansiv CEO, OTX will present new opportunities across the Xpansiv platform. CBL products such as the Global Emissions Offset™ and the newly announced N-GEO™ help address immediate ESG exposure. Meanwhile, OTX can extend the application of Digital Feedstock™ to underlying fuels.
Francesco Dolci, the OTX co-founder, expressed his delight in joining Xpansiv. He said the company looks forward to expanding the range of products offered to its customers. The potential for cross-selling is exceptional, also the ability to better support the customers with the most excellent exposure to climate risk.
John Melby, Xpansiv President, and COO said that these two companies have a long history together. OTX’s innovative culture coupled with its core knowledge in markets, physical commodities, and ESG is unique. It directly aligns with Xpansiv’s approach to the energy transition. Furthermore, he is confident that together they will accelerate the convergence of ESG and conventional commodities.
Moreover, Gestio Capital acted as a financial sponsor to OTX. This transaction marks another milestone on Xpansiv’s strategic-acquisition path to improve its market position, extend into new geographies, and stimulate its growth in global commodity products.