Marex Clearing Becomes First to Adopt J.P. Morgan's Kinexys in Partnership with Brevan Howard Digital for Enhanced Payment Streamlining
Financial Giants Collaborate to Modernize Payment Settlements
Marex Group plc and Brevan Howard Digital have joined forces to leverage JPMorgan’s Kinexys Digital Payments blockchain technology, aiming to modernize the payment infrastructure and facilitate near-instant, 24/7 settlement of trades.
The collaboration, which includes key players such as Akshika Gupta (Global Head of Client Solutions at Kinexys by J.P. Morgan), Adam Gibbons (COO of Brevan Howard Digital), and Terry Hollingsworth (Global Head of Futures & OTC Clearing Sales at Marex), seeks to reduce settlement risk and promote more efficient payments.
Marex, being the first clearing firm to use Kinexys Digital Payments' blockchain deposit accounts, will leverage the system to strengthen its capacity for efficient, secure, and continuous settlements. This integration is expected to reduce cost, time, and settlement risk across its operations.
Kinexys Digital Payments enables counterparties to settle payments instantly, near real-time, and 24/7. The technology reduces settlement time and cost, and in addition, it enables atomic settlements, where the simultaneous transfer of assets and funds occurs, eliminating counterparty exposure and manual reconciliation processes.
The blockchain platform's permissioned environment ensures compliance with institutional risk standards while enhancing operational efficiency and transaction transparency. Brevan Howard Digital supports expanding the Kinexys ecosystem and optimizing transaction workflows, promoting scalable blockchain adoption for complex financial instruments within a regulated framework.
The collaboration reflects a broader industry trend towards blockchain for clearer, faster settlements in financial markets. Marex Group plc, with this move, affirms its position as a market leader in innovation. Both Marex and Brevan Howard Digital can maintain the same level of security provided by traditional payment settlement rails using this technology.
Adam Gibbons and his team at Brevan Howard Digital will continue to work closely with industry participants as part of this collaboration. Akshika Gupta and her team at Kinexys by J.P. Morgan will provide ongoing support for the implementation and maintenance of the technology.
In summary, the collaboration between Marex, Brevan Howard Digital, and Kinexys by J.P. Morgan aims to leverage blockchain technology to enable atomic, near real-time settlements 24/7 via programmable digital ledger accounts. This integration is expected to reduce settlement risk by simultaneously transferring assets and payments, automate workflows, and enhance efficiency in the financial markets.
[1] Marex Group plc Press Release, [Title], [Date] [2] Brevan Howard Digital Press Release, [Title], [Date] [3] JPMorgan Press Release, [Title], [Date] [4] Kinexys Digital Payments Whitepaper, [Title], [Date] [5] Marex Group plc Annual Report, [Title], [Date]
- The partnership between Marex Group, Brevan Howard Digital, and JPMorgan's Kinexys Digital Payments aims to utilize blockchain technology for efficient, secure, and continuous risk management in finance and business through the implementation of atomic, near real-time settlements 24/7, using programmable digital ledger accounts.
- By adopting Kinexys Digital Payments' blockchain technology, Marex Group seeks to optimize risk management, reducing settlement risk and promoting more efficient payments in technology-driven business environments.
