Global financial services platform Marex will offer client clearing of interest rate swaps.

It will become a member of LCH’s SwapClear service, one of the largest interest rate swaps clearing houses in the world, on July 15, 2024, subject to final approval.

As the first non-bank Futures Commission Merchant (FCM) clearing member to offer client clearing of interest rate swaps through the LCH SwapClear service, Marex is addressing a gap in the market and responding to client demand for greater counterparty risk diversification, clearing capacity and improved market connectivity.

Marex’s client clearing of interest rate swaps expands its existing clearing memberships across energy, commodity and financial markets, and signals its commitment to continually invest in its clients and grow its platform. Marex’s non-bank clearing solution is broker agnostic and can complement existing bank relationships.

Thomas Texier, Group Head of Clearing at Marex, commented:

“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.”