Marex has develop into the newest futures clearing and buying and selling participant on the Australian Securities Change (ASX), the corporate introduced in the present day (Friday). It may now supply direct buying and selling and clearing providers to Australian wholesale traders, growing competitors within the closely concentrated market.
The corporate additionally highlighted that at the moment, there are solely a handful of market contributors in Australia, and its membership will scale back counterparty danger administration and enhance depth out there.
The brand new membership got here below Marex’s world clearing progress technique. It opened its Australian workplace in December 2021 to bolster its progress within the Asia-Pacific. The group’s web income from the area elevated 49 % within the first half of 2023.
Marex now provides clearing on 57 exchanges, holding greater than $11.8 billion in buyer property on the finish of June 2023.
“We’re excited to develop into a buying and selling and clearing member of the ASX,” mentioned Paolo Tonucci, Chief Strategist & CEO of Capital Markets at Marex. “As a part of our rising footprint within the Asia Pacific, this marks an necessary step in our technique to extend our capabilities to attach purchasers to markets in new methods throughout extra geographies.”
Increasing Providers
Marex is headquartered in the UK with a diversified monetary providers enterprise round liquidity, market entry, and infrastructure providers. Its purchasers are in vitality, commodities, and monetary markets. In July, the group additionally onboarded Graham Francis because the Chief Working Officer, who got here onboard from TP ICAP.
The Marex Group additionally acquired Cowen’s prime brokerage and outsourced buying and selling enterprise earlier this 12 months.
“As a worldwide unbiased non-bank, we’ve got a robust stability sheet to assist our full-service, on-the-ground Australian group, and our purchasers can commerce with better confidence with our end-to-end providing,” mentioned Thomas Texier, Head of Clearing at Marex.
“The Australian market has been overly concentrated for a while, and our entrance will add competitors and fill the void left by main banks departing the marketplace for futures clearing.”
Marex has develop into the newest futures clearing and buying and selling participant on the Australian Securities Change (ASX), the corporate introduced in the present day (Friday). It may now supply direct buying and selling and clearing providers to Australian wholesale traders, growing competitors within the closely concentrated market.
The corporate additionally highlighted that at the moment, there are solely a handful of market contributors in Australia, and its membership will scale back counterparty danger administration and enhance depth out there.
The brand new membership got here below Marex’s world clearing progress technique. It opened its Australian workplace in December 2021 to bolster its progress within the Asia-Pacific. The group’s web income from the area elevated 49 % within the first half of 2023.
Marex now provides clearing on 57 exchanges, holding greater than $11.8 billion in buyer property on the finish of June 2023.
“We’re excited to develop into a buying and selling and clearing member of the ASX,” mentioned Paolo Tonucci, Chief Strategist & CEO of Capital Markets at Marex. “As a part of our rising footprint within the Asia Pacific, this marks an necessary step in our technique to extend our capabilities to attach purchasers to markets in new methods throughout extra geographies.”
Increasing Providers
Marex is headquartered in the UK with a diversified monetary providers enterprise round liquidity, market entry, and infrastructure providers. Its purchasers are in vitality, commodities, and monetary markets. In July, the group additionally onboarded Graham Francis because the Chief Working Officer, who got here onboard from TP ICAP.
The Marex Group additionally acquired Cowen’s prime brokerage and outsourced buying and selling enterprise earlier this 12 months.
“As a worldwide unbiased non-bank, we’ve got a robust stability sheet to assist our full-service, on-the-ground Australian group, and our purchasers can commerce with better confidence with our end-to-end providing,” mentioned Thomas Texier, Head of Clearing at Marex.
“The Australian market has been overly concentrated for a while, and our entrance will add competitors and fill the void left by main banks departing the marketplace for futures clearing.”
