Financial services platform Marex has joined the Australian Stock Exchange (ASX) as a futures clearing and trading participant.
The company will provide direct trading and clearing services through the exchange, improving competition within the market and choice for Australian wholesale investors.
By entering the clearing registry, Marex clients are now granted direct access to the ASX. The move will also enhance market depth and counterparty risk management, the company says, particularly in light of the current ‘heavily concentrated’ nature of futures clearing for ASX trades.
The announcement continues Marex’s global clearing expansion and targeted APAC expansion, following the opening of its Australian office in December 2021. The firm currently operates across 57 exchanges,
Paolo Tonucci, head strategist and CEO of capital markets at Marex, says: “As part of our growing footprint in the APAC, this marks an important step in our strategy to increase our capabilities to connect clients to markets in new ways across more geographies.”
Thomas Texier, head of clearing at Marex, comments: “As a global independent non-bank, we have a strong balance sheet to support our full-service, on-the-ground Australian team and our clients can trade with greater confidence with our end-to-end offering. The Australian market has been overly concentrated for some time, and our entrance will add competition and fill the void left by major banks departing the market for futures clearing.”
