Marex secures ASIC approval to operate Australian office
Marex has gained regulatory approval from the Australian Securities and Investment Commission (ASIC) to open and operate an office in Sydney, Australia.
Nick Burke, head of APAC Sales for Marex Solutions, will lead the team at Marex Australia to provide local clients with OTC derivative products to hedge commodity and Forex price risk. This product set will then be expanded to include futures execution, clearing services and broader OTC offerings.
Of the 1,100 Marex employees around the world, more than 70 are based in Asia Pacific out of Hong Kong and Singapore, with plans to expand further in the region.
Ian Lowitt, CEO 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.”