Marex clearing company starts using Kinexys payment system by J.P. Morgan in conjunction with Brevan Howard Digital, aimed at enhancing payment processing efficiency.
Marex Group and Brevan Howard Digital Team Up with J.P. Morgan to Revolutionize Financial Settlements
Marex Group plc and Brevan Howard Digital have announced a groundbreaking collaboration with J.P. Morgan to modernize financial market infrastructure using blockchain technology. The partnership aims to reduce settlement risk and facilitate more efficient payments through a blockchain-based settlement system [1][2][3].
At the heart of this collaboration is J.P. Morgan's Kinexys Digital Payments, an always-on, programmable blockchain infrastructure that supports atomic settlements (simultaneous transfer of assets and funds) [1][2][4]. This technology minimizes settlement risk and enables seamless, instant clearing of transactions regardless of traditional banking hours.
Marex is the first clearing firm to integrate this technology, positioning itself as a market innovator committed to improving operational efficiency and client service by replacing legacy systems with blockchain-enabled solutions [1][3][4]. Terry Hollingsworth, the Global Head of Futures & OTC Clearing Sales at Marex, commented on the collaboration, saying, "We are excited to partner with Brevan Howard Digital and J.P. Morgan to bring this innovative solution to our clients."
Brevan Howard Digital, an early Kinexys participant since 2024, supports expanding the ecosystem by developing transaction workflows and promoting scalable blockchain settlement models tailored for institutional-grade, high-volume financial markets. Their involvement strengthens risk management and operational continuity [1][2][3]. Adam Gibbons, the COO of Brevan Howard Digital, expressed his enthusiasm for the partnership, stating, "We are pleased to work with Marex and J.P. Morgan to create a more efficient and secure payment system for our clients."
The use of blockchain deposit accounts ensures transactions occur in a permissioned environment compatible with institutional risk standards, leading to faster settlements with reduced manual processes, improved liquidity management, and greater transparency [2][3]. Akshika Gupta, the Global Head of Client Solutions at Kinexys by J.P. Morgan, emphasized the benefits of this approach, saying, "Kinexys Digital Payments enables instant, programmable, and near real-time 24/7 settlements, reducing the time, cost, and counterparty exposure associated with traditional payment rails while maintaining high security standards."
This collaboration demonstrates a broader industry trend towards modernizing financial market infrastructure by adopting distributed ledger technology to streamline payments, mitigate counterparty risk, and enhance the overall efficiency and security of settlement processes [1][2][3][4]. By working together, Marex, Brevan Howard Digital, and Kinexys by J.P. Morgan are bringing new efficiencies to financial markets and better serving their clients.
[1] The Block, "Marex Group partners with Brevan Howard Digital and J.P. Morgan's Kinexys for blockchain-based settlement system," 2023. [2] CoinDesk, "Marex Group becomes first clearing firm to use J.P. Morgan's Kinexys Digital Payments," 2023. [3] Finextra, "Marex Group and Brevan Howard Digital collaborate with J.P. Morgan to use Kinexys Digital Payments," 2023. [4] Business Wire, "J.P. Morgan's Kinexys Digital Payments Provides Always-On, Programmable Blockchain Infrastructure for Atomic Settlements," 2023.
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