Marex announced today that the company has received regulatory approval from the Australian Securities and Investment Commission (ASIC) to open and operate an office in Sydney, Australia.
Marex called the Asia Pacific one of the ‘key’ markets for its global expansion. Out of the company’s 1,100 employees around the world, over 70 are based in the Asia Pacific region out of Hong Kong and Singapore. Marex aims to increase the mentioned numbers in the near future.
The details shared by Marex indicate that Nick Burke, the Head of APAC Sales for Marex Solutions, will lead the company’s team in Australia. The firm will facilitate clients through OTC derivative products to hedge risks related to the commodity and foreign exchange (FX) price.
“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,” Burke said.
In November 2021, Marex Solutions and Coinbase Prime announced a collaboration on crypto derivatives. Earlier this year, the company announced its plan to acquire Volcap trading.
Asia Pacific
In the press release, Marex outlined the importance of Australia in the company’s Asia Pacific expansion plan. Sydney is one of the world’s prominent financial centers. Through the Australian branch, Marex aims to offer a comprehensive risk management solution to regional clients.
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.”
