Marex has become a trading and clearing member of Singapore Exchange Group (SGX), enabling it to offer these services directly to SGX clients.
Marex’s clearing business provides infrastructure services to 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: “This important membership deepens our commitment to the region and gives us an 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. 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.
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