Marex Group plc (NASDAQ:MRX), a diversified global financial services platform, has become the first firm to provide clients access to margin benefits through a clearing partnership between LCH Ltd and FMX Futures Exchange.

Marex enabled the first client to use the service on Monday, 22nd September. The service is designed to reduce counterparty risk and provide significant savings to clients with portfolio margining across futures positions held on FMX Futures Exchange and interest rate swaps (IRS) portfolios on LCH via LCH’s fully automated Portfolio Margining service.

Marex has a record of enabling firsts with LCH Ltd, which is a fully approved CFTC Derivatives Clearing Organization and one of the largest clearing houses for interest rate swaps in the world. In July 2024, Marex became the first non-bank to offer client clearing of IRS on LCH, deepening liquidity, diversifying counterparty risk and increasing capacity for the IRS market.

FMX Futures Exchange, which launched SOFR futures in September 2024 and expanded its offering to include two-year and five-year UST futures contracts in May, is a part of the broader FMX offering which includes a US interest rate futures exchange, spot foreign exchange platform and US cash treasuries platform.

Marex has supported the growth of the exchange as one of its largest clearing members since the platform’s launch last year. The firm cleared the first-ever trade on FMX in September 2024 and the first UST delivery earlier this month.

Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales, Marex, commented:

“The launch of margining benefits between LCH and FMX marks a significant step in bringing greater diversification to the US Treasury futures market. With this service, LCH, FMX and Marex are not only delivering capital savings to clients but building a stronger and more resilient futures market. Initiatives like this reinforce our commitment to driving market innovation, and we are proud to be the first clearing firm to provide our clients with access to this service.”

Nick Rustad, Group Head of LCH SwapClear and Listed Rates, added:

“We are pleased to have supported Marex on a number of firsts over the last year including as the first non-bank FCM to onboard to the Listed Rates service. We look forward to our continued collaboration as we bring greater operational and margin efficiencies to Marex and its clients through our clearing services.”