Marex obtains ASIC license for OTC derivatives products in Australia

Rick Steves

Marex Australia will then expand its product set to include futures execution, clearing services and broader OTC offerings.

The Australian Securities and Investment Commission (ASIC) has approved Marex to operate in the country with its OTC derivative products, futures execution, clearing services, and broader OTC offerings.

Besides acquiring the ASIC license, Marex has opened an office in Sydney, from where the operation will be based. The firm already has more than 70 are based in Asia Pacific out of Hong Kong and Singapore, with plans to expand further in the region.

Nick Burke at the helm of Marex Australia

The Sydney office will be led by Nick Burke, head of APAC Sales for Marex Solutions. The Marex Australia team, which will be under his responsibility, will provide local clients with OTC derivative products to hedge commodity and foreign exchange price risk.

Marex Australia will then expand its product set to include futures execution, clearing services and broader OTC offerings.

Ian Lowitt, Chief Executive Officer at Marex, commented: “Developing Asia Pacific is a central part of our stated global growth strategy, with a key strand being the launch and expansion of an Australian branch. As one of the largest markets for agriculture, energy and metals, Australia is a hugely important geography for our business and where it is essential to have a physical presence. We look forward to offering our comprehensive risk management solutions to the Australian agricultural, commodity and financial sector”.

Nick Burke, Head of Marex’s Australia Branch, added: “This is an exciting development for Marex as we grow our presence and increase our headcount in the region. There are tangible opportunities, including providing Australian-based clients with improved market access to exchange traded derivatives and clearing via our proprietary technology platforms. We look forward to offering our suite of innovative cross-asset OTC products to clients locally.”

Marex joins forces with Coinbase for crypto offering

Marex has recently been covered for its institutional crypto derivatives trading offering launched together with Coinbase Prime.

The agency-only model adopted by Coinbase Prime suits Marex Solutions’ Derivatives Engine, allowing for multi-venue liquidity and best execution, enabling attractive pricing and reliable secondary market liquidity.

Marex Solutions offers a broad range of products within a wide list of crypto-underlyings, either in a securitised or in an Over-the-Counter (OTC) format.

It already has several innovations in the crypto market, including the first ever autocallable on a crypto currency and the first ever securitised cash and carry trade on bitcoin.

 

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