Marex to offer client clearing of interest rate swaps
17 June 2024 UK, US
Image: piter2121/stock.adobe.com
Global financial services platform Marex will offer client clearing of interest rate swaps, and will become a member of LCH’s SwapClear service on 15 July.
According to the firm, it will become the “first non-bank FCM clearing member” to offer this service through LCH SwapClear.
Marex says this move addresses a gap in the market and responds to client demand for greater counterparty risk diversification, clearing capacity and improved market connectivity.
Commenting on the announcement, Thomas Texier, head of clearing at Marex, says: “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 balance sheet, end-to-end offerings and client service.”
According to the firm, it will become the “first non-bank FCM clearing member” to offer this service through LCH SwapClear.
Marex says this move addresses a gap in the market and responds to client demand for greater counterparty risk diversification, clearing capacity and improved market connectivity.
Commenting on the announcement, Thomas Texier, head of clearing at Marex, says: “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 balance sheet, end-to-end offerings and client service.”
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