Marex has been awarded regulatory approval from the Australian Securities and Investment Commission (ASIC) as the fintech firm launches its operations in Australia, based in Sydney.
OTC Derivative Products in Australia
To head the Sydney office, the company appointed Nick Burke, head of APAC Sales for Marex Solutions.
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 Australia will first provide local clients with OTC derivative products to hedge commodity and foreign exchange price risk. The offering will then expand to include futures execution, clearing services, and broader OTC solutions.
Ian Lowitt, Chief Executive Officer Marex, said: “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”.
Marex has 1,100 employees across the globe, with over 70 based in the Asia Pacific region at the Hong Kong and Singapore offices. The new office in Sydney will fuel a new drive for expansion in APAC, with more staff and more business.
Formerly Known as Marex Spectron
Marex Spectron rebranded to Marex earlier this year as the firm looked into modernizing itself. Times have changed and the financial industry is still playing catch up to the new technologies and opportunities offered with the rise of blockchain.
The company has already took action and developed a number of solutions for institutional trading of digital assets.
Most recently, Marex and Coinbase partnered, via two of their subsidiaries, to bring to the institutional space new cryptocurrency derivatives products.
Marex Solutions, a division of Marex Group that specialises in customised derivative products, and Coinbase Prime, the crypto exchange’s custodian and liquidity hub, plan to broaden both parties institutional digital hedging and crypto investment capabilities.
The partnership will leverage Marex Solutions expertise in building derivative solutions and Coinbase Prime’s crypto custody, liquidity, and prime services. 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.
