Marex Becomes the First Clearing Agency to Integrate Kinexys' Digital Payment Technology
In a groundbreaking move, Marex Group plc and Brevan Howard Digital have teamed up with J.P. Morgan's Kinexys Digital Payments to revolutionise the financial market infrastructure. This collaboration aims to reduce settlement risk and improve payment efficiency by enabling instant, programmable, 24/7 settlement of trades through blockchain-based deposit accounts.
Kinexys Digital Payments provides an always-on, programmable blockchain platform that allows Marex and Brevan Howard Digital to settle transactions instantly, even outside of traditional banking hours. The use of blockchain deposit accounts enables atomic settlement—simultaneous transfer of assets and funds—reducing counterparty exposure and the risk of one party failing to deliver after the other has done so.
This innovative solution automates payment and settlement workflows, removing manual steps, thereby lowering operational costs and increasing speed. It enhances security, transparency, and liquidity management while aligning with institutional risk management standards within a permissioned blockchain environment.
Adopting this technology, Marex Group positions itself as a market innovator, helping to modernise and digitise the financial market infrastructure for futures, OTC clearing, and complex transactions. Brevan Howard Digital, known for its forward-thinking approach, remains at the forefront of adopting innovative digital solutions to deliver the best possible outcomes for its clients.
Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex, described Kinexys by J.P. Morgan as the next generation of financial market infrastructure. Adam Gibbons, COO at Brevan Howard Digital, stated that this collaboration is a tangible example of how blockchain technology can drive efficiency gains and strengthen risk management controls.
Akshika Gupta, Global Head of Client Solutions at Kinexys by J.P. Morgan, hailed the collaboration as a significant milestone in the advancement of financial market infrastructure. She emphasised that Marex and Brevan Howard Digital utilising the Kinexys Digital Payments network for seamless, 24/7 settlements is a testament to the system's ability to facilitate near-instant, automated, and secure settlement of financial transactions, thereby materially reducing the settlement risk arising from delayed or failed payments and streamlining the overall clearing and settlement process.
Brevan Howard Digital joined Kinexys Digital Payments in 2024 and has been working with industry participants to create an ecosystem for utilising the platform. Kinexys Digital Payments ensures near real-time payments by eliminating the delays and counterparty risks associated with traditional settlement systems, providing the same level of security as traditional payment settlement rails.
In summary, the collaboration between Marex Group, Brevan Howard Digital, and Kinexys Digital Payments is a demonstration of a commitment to bring greater operational efficiency to clients and the wider market. This innovative approach to financial market infrastructure is set to redefine the industry, offering faster, more secure, and more cost-effective solutions for all parties involved.
[1] Marex Group Press Release, "Marex Group and Brevan Howard Digital Partner with J.P. Morgan's Kinexys Digital Payments for Revolutionary Settlement Solution", [date], [URL]
[2] Brevan Howard Digital Press Release, "Brevan Howard Digital Adopts J.P. Morgan's Kinexys Digital Payments for Seamless, 24/7 Settlements", [date], [URL]
[3] J.P. Morgan Press Release, "J.P. Morgan's Kinexys Digital Payments Powers Instant, Programmable 24/7 Settlements for Marex Group and Brevan Howard Digital", [date], [URL]
[4] Fintech Magazine, "Marex Group and Brevan Howard Digital Partner with J.P. Morgan's Kinexys Digital Payments: A Game-Changer for Financial Market Infrastructure", [date], [URL]
[5] The Block, "Marex Group and Brevan Howard Digital Partner with J.P. Morgan's Kinexys Digital Payments: A Step Forward in Blockchain Adoption", [date], [URL]
Technology and finance merge in this groundbreaking collaboration between Marex Group, Brevan Howard Digital, and J.P. Morgan's Kinexys Digital Payments. By leveraging blockchain-based deposit accounts, this partnership aims to revolutionize the financial market infrastructure, delivering faster, more secure, and cost-effective solutions through automated, 24/7 settlement of trades.
This business venture exemplifies the potential of technology in the finance sector, as Marex Group and Brevan Howard Digital adopt cutting-edge solutions to modernize and digitize their operations, aligning with institutional risk management standards within a permissioned blockchain environment.
