Marex becomes Derivatives Trading and Clearing Member of SGX GroupOctober 27, 2023
Marex, the diversified global financial services platform, today announces that it has become a trading and clearing member of Singapore Exchange Group (SGX), enabling it to offer direct trading and clearing services to clients across SGX as it invests in expanding its global client offering in the Asia Pacific region.
Membership of SGX gives Marex’s clients direct access to one of Asia’s most international exchanges and a key financial hub in the region. This is a continuation of Marex’s strategy to expand its clearing offering in Asia Pacific, which in turn will allow it to capture further growth opportunities through its comprehensive combination of services that connect clients to markets.
Marex’s clearing business provides essential infrastructure services to a range of clients including banks, hedge funds, asset managers, corporates and trading groups. Marex also provides on-exchange liquidity through market making and agency and execution services, as well as over the counter, bespoke derivatives through its hedging and investment solutions business.
Arthur Fan, Head of Asia Pacific, Marex, said: “We are delighted to become a trading and clearing member of SGX, which is such an important exchange in the Asia Pacific. This important membership deepens our commitment to the region and gives us even greater opportunity to offer more services to more clients and expand our investment and operations across the region.”
Ian Lowitt, CEO of Marex, said: “Our strategy is to increase our capabilities to connect clients to markets in new ways across more geographies. This new membership allows us to both increase our clearing capabilities and our footprint in Asia Pacific. Singapore is a strategically important financial hub where we will continue to enhance our offering in line with our clients’ evolving needs.”
Pol de Win, Senior Managing Director, Head of Global Sales and Origination, SGX Group, said, “Marex’s scale and vast experience in the cleared derivatives markets is a great complement to our fast-growing derivatives franchise. We are excited to have Marex come onboard as a Derivatives Trading and Clearing Member given their specialised knowledge and expertise, that will help further deepen and diversify the derivatives ecosystem.”
In the first half of 2023, Marex held more than $11.8 billion (USD) in customer assets, clearing on 57 exchanges, with its customers relying on its award-winning multi-asset offering and strong balance sheet, rated BBB with Stable Outlook from Fitch for Marex Financial and BBB- with Stable Outlook from S&P for Marex Group. The company posted growth in net revenue of 89% in Asia Pacific in the first half of 2023, versus the same period a year earlier.