Marex Group announced Wednesday that it has become the first clearing firm to enable client access to margin benefits through the partnership between FMX Futures Exchange and LCH Ltd.
Marex Becomes First Clearing Firm to Offer Margin Benefits via FMX and LCH
The move enables clients to use LCH’s Portfolio Margining Service, providing portfolio margin benefits across futures positions on FMX and interest rate swaps (IRS) portfolios on LCH.
The first client accessed the service on 22 September. By consolidating margining across futures and swaps, the initiative is said to be designed to reduce counterparty risk and deliver significant capital savings.
Marex has a history of pioneering access to LCH services. In July 2024, it became the first non-bank to offer client clearing of IRS on LCH, broadening liquidity and diversifying counterparty risk.
The firm has also been closely involved in supporting FMX Futures Exchange since its launch last year, having cleared the first-ever FMX trade in September 2024 and the first U.S. Treasury delivery earlier this month.
FMX launched SOFR futures in 2024 and has since expanded into U.S. Treasury contracts. LCH, meanwhile, is one of the world’s largest clearing houses for interest rate swaps and is fully approved as a CFTC Derivatives Clearing Organization.
Terry Hollingsworth, Marex’s Global Head of Futures & OTC Clearing Sales, said: “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.”
