Marex is set to offer client clearing of interest rate swaps, and will become a member of LCH’s SwapClear service effective 15 July 2024, subject to final approval.
By offering this service, Marex aims to improve counterparty risk diversification, clearing capacity and market connectivity for users. It is the first non-bank FCM clearing member to provide this service through LCH SwapClear.
The service builds on Marex’s existing clearing memberships across energy, commodity and financial markets.
Commenting on the development, Thomas Texier, head of clearing at Marex, said: “Our entry into interest rate swap clearing is a significant move given the size of this market and complements our existing clearing offering.
“Recent consolidation in the interest rate swaps clearing market has heightened the need for new players. Our clients will be empowered to trade with greater confidence using Marex’s robust balance sheet, comprehensive end-to-end offerings and our consistent delivery on excellent client service.”
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