Marex

What Marex does

Marex is a diversified global financial services platform that provides liquidity, market access, clearing, and infrastructure across energy, commodities, metals, financial, and digital asset markets. Founded in 1992 and headquartered in London with principal executive offices in New York, the company operates more than 40-50 offices globally and employs over 3,000 people. It listed on Nasdaq under ticker MRX in April 2024, reaching a market capitalisation of approximately $4.17 billion in June 2026, and is currently executing a court-sanctioned redomicile from the UK to Bermuda expected effective July 1, 2026. Marex Financial, the primary operating company, holds an S&P investment-grade rating (BBB-/A-3) and FCA-regulated status, supporting the group's non-bank FCM and structured product issuance operations.

Marex's technology stack is built in-house and centres on the Neon digital platform suite (Portfolio, Metals, Energy, Crude, Carbon, Insights, and a clean energy tax credits marketplace), the Agile web-based pricing and execution engine, and Nanolytics, the company's machine learning and AI-powered big data analytics service. FIX and API connectivity underpin institutional algorithmic, high-frequency, and electronic trading workflows. These platforms support four core service lines: Clearing (one of the world's largest non-bank FCMs with full memberships at LME, LBMA, ASX, SGX, CME/COMEX/NYMEX, ICE Europe/US, CBOT, Euronext Paris, and MGEX), Market Making (acting as principal across energy, metals, environmentals, financial, and agricultural markets), Agency and Execution (voice, electronic, algorithmic, and floor broker execution via XFA on the CBOE for SPX and VIX options), and Hedging and Investment Solutions (Marex Solutions, issuing structured products under Marex Financial's own programs). Specialist sub-brands and subsidiaries include Winterflood, CSC Commodities, Eagle Commodities, Hamilton Court Group, Webb Traders, Volcap, Dropet, Arfinco, Tangent Trading, Starsupply, ILS Brokers, and Levmet.

Marex generates revenue primarily through transaction-based streams — agency and execution commissions, market making spreads and principal trading P&L, structured product issuance margins, and prime services and outsourced trading fees — with subscription-based revenue from Neon market data and analytics access. Pricing is bespoke and quote-based across all service lines. The client base spans hedge funds, asset managers, banks, family offices, energy and commodity producers, and corporates, with additional UK retail reach via Winterflood's WRAP platform and intermediaries such as Hargreaves Lansdown, Interactive Investor, and AJ Bell. With $24.3 billion in available liquid resources (2024), the platform supports substantial clearing and financing capacity. Marex reported FY2025 revenue of $2,024.1 million (+27% YoY) and record Q1 2026 revenue of $692.3 million (+48% YoY), alongside 11 consecutive years of adjusted profit growth and a 36% YoY increase in the $5M+ institutional client cohort during 2025.

Name

Marex

Legal name

Marex Group plc

Website

https://marex.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Marex is a diversified global financial services platform providing liquidity, market access, clearing, market making, and bespoke structured solutions across energy, commodities, metals, financial, and digital asset markets to institutional and corporate clients globally.

Ownership category

akta.pro rank

Product category

Diversified Financial Services

NAICS

Commodity Contracts Intermediation (523160), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Centralized Crypto Exchanges (CEX) (FSAPADAA)

akta.pro secondary industries

Market Making & Liquidity Programs (Exchange-Operated) (FSADAAAI), Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

Keywords

• Commodities brokerage
• Futures clearing services
• Market making
• Agency execution
• Structured product issuance

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices21 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Agency and execution commissions: Commission revenue from agency execution of OTC and listed contracts across commodities, energy, metals, and financial markets, including via algo execution (RCM-X), electronic care orders, electronic DMA, and voice broking; access to XFA floor brokerage on CBOE for SPX/VIX options.
2. Market making spread and principal trading: Spread and principal P&L from market making across energy, metals, environmentals, financial, and agriculture markets, leveraging extensive market connectivity and asset-class specialist teams; Marex acts as principal to the transaction.
3. Hedging & Investment Solutions (structured products): Manufacturing and distribution of bespoke OTC hedging solutions (corporate commodity/FX risk) and customised investment solutions (securitised and OTC structured products) under Marex Financial's own issuance programs via the Agile platform.
4. Prime services and outsourced trading: Fees from non-bank prime brokerage, financing, securities lending, FX, and outsourced trading services to hedge funds, family offices, and asset managers, including global execution across credit, equities, financing, FX, and rates.
5. Market data and analytics subscriptions: Subscription-based access to Neon Energy, Neon Metals, Neon Carbon, Neon Insights and other market data/indices across energy, metals, and agriculture markets; market data accessed by thousands of energy professionals globally.
6. Digital assets services revenue: Revenue from crypto structured products, OTC derivatives, crypto clearing/settlement/execution, market making across CME crypto futures and crypto ETFs, crypto treasury management, financing, and non-bank crypto prime brokerage; $10B+ in CME-related crypto products traded since 2018 and $2B+ notional in crypto-linked structured products since 2021.
7. Environmental markets services: Revenue from brokering, clearing, and trading across compliance and voluntary environmental markets (carbon credits, RECs, CORSIA, biofuels, renewable thermal certificates, US transferable tax credits via the Neon marketplace, and recycled metals).

Pricing tiers

Go-to-market motion6 records

Distribution channels8 records

Marketing channels12 records

Core offering

Marex is a diversified global financial services platform that provides liquidity, market access, clearing, hedging and bespoke investment solutions to clients across energy, commodities, metals, agriculture and financial markets. It operates as a non-bank Futures Commission Merchant (FCM) with full clearing membership of major global exchanges and delivers its services through four core lines — Clearing, Market Making, Agency and Execution, and Hedging and Investment Solutions — underpinned by the proprietary Neon client technology portal, the Agile pricing and execution platform and the Nanolytics AI-powered analytics service.

Product overview

Marex operates a diversified global financial services platform organised as a platform-plus-modules architecture. The core client-facing technology is the Neon suite of digital platforms (including Neon Portfolio, Neon Metals, Neon Energy, Neon Crude, Neon Insights, Neon Carbon, and the Neon clean energy tax credits marketplace), complemented by the Agile pricing and execution platform, the Nanolytics AI-powered analytics service, the Winterflood Retail Access Platform (WRAP) and Winterflood's EOS technology platform. The platform is delivered alongside four core service lines—Clearing, Market making, Agency and execution, and Hedging and investment solutions (Marex Solutions)—and spans multiple specialist sub-brands including CSC Commodities, Eagle Commodities, Dropet, ILS Brokers, Arfinco, Starsupply, Tangent Trading, Volcap Trading Limited, Winterflood, and X-Change Financial Access (XFA), with Prime Services as a capital markets sub-offering.

Differentiator

Problem solved

Functional benefit

Brands

• Arfinco: One of the largest brokers of exchange-traded European grains; a Marex Group division.
• CSC Commodities
• Dropet
• Eagle Commodities
• ILS Brokers
• Starsupply
• Tangent Trading
• Volcap Trading Limited
• Winterflood
• X-Change Financial Access (XFA)
• Neon
• Agile
• Marex Solutions
• Nanolytics
• Neon Markets
• Hamilton Court Group

Products and services

• Clearing

Quantifiable outcome

• FY2025 revenue of $2,024.1M (up 27% YoY) and Adjusted PBT of $418.1M (up 30% YoY) with 27.6% ROE; 11-year track record of sequential profit growth.
• +7 more outcomes

Named customers14 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability5 records

Feature12 records

Partnerships

27 partnerships are on record, tiered core, flagship and minor.

• Georges Assi (Sigma Lending / Naviter Capital)coreOthers · 8 June 2026Georges Assi appointed to Marex Group's Group Board and Risk Committee with immediate effect. Fintech entrepreneur, current CEO of Sigma Lending, Co-Founder and Partner of Naviter Capital, and former senior banker at Nomura International and Lehman Brothers. Adds credit, fixed income and fintech expertise.
• DeribitcoreTechnology or Integration · 1 June 2026Marex Group plc onboarded as a broker on Deribit, a leading crypto options exchange. Expands Marex's institutional digital asset offering to include access to crypto options, futures and perpetuals via Deribit's derivatives trading platform, combining Marex's global infrastructure and risk management framework with Deribit's deep liquidity.
• HIFI and DRW (Canton Network)flagshipTechnology or Integration · 1 June 2026Onchain repurchase (repo) transaction on the Canton Network with HIFI providing the cash leg against U.S. Treasuries supplied by DRW, with Marex acting as prime broker. Executed on Tradeweb via RFQ protocol, settling atomically in real time with fiat funds moving from RTP into USDC and USDCx for settlement. Proof-of-concept for tokenized repo markets and 24/7 capital markets.
• Quadrant (SEGG Media)coreGTM or Marketing Partner · 1 June 2026Marex is Quadrant's Official FX & Payments Partner, with Veloce Media (SEGG Media subsidiary) running campaigns for brands including Audi, Puma, Xbox and Ford. Partnership is expected to deliver sustained revenue contributions throughout 2026.
• LevmetcoreStrategic or Co-development Partner · 1 June 2026Acquisition of Monaco-based Levmet, a liquidity provider in physical and derivatives markets spanning base metals, ferrous metals, energy, and power. Expands Marex's physical market making operations and European energy trading capabilities, diversifying earnings across commodity and financial markets.
• Epiris (Epiris Fund III)coreStrategic or Co-development Partner · 1 June 2026Sale of Marex's Winterflood Business Services (WBS) to UK investment management firm Epiris via Epiris Fund III, completed June 2026. WBS operates the EOS technology platform managing £26bn in assets for institutional clients including Transact, Vanguard and Fidelity. Closing expected Q2 2026 with ~$40M capital benefit to Marex.
• Parameta Solutions (TP ICAP)coreStrategic or Co-development Partner · 1 March 2026Joint launch of a netback pricing offering combining Parameta's oil and freight data with Marex's market intelligence. Integrates oil price benchmarks from ICAP, Tullett Prebon and PVM with Marex energy and freight insights to provide real-time route economics, arbitrage identification and risk management across physical and paper markets. First phase of a broader co-development collaboration.
• Clear StreetcoreStrategic or Co-development Partner · 1 March 2026Clear Street and Marex Group are both building infrastructure to offer hedge fund and institutional clients access to Kalshi's prediction markets, with Clear Street expecting its first Kalshi trade to clear in late March 2026 and Marex following within the next few months. Both firms are partnering with Kalshi amid ongoing regulatory uncertainty.
• KalshicoreGTM or Marketing Partner · 1 March 2026Prediction market partnership enabling Marex to provide its hedge fund and structured products clients with access to Kalshi's event contracts as part of broader institutional adoption of prediction markets.
• CME Group, FalconX, Cumberland DRW, WintermutecoreChannel Partner/ Reseller/ Distributor · 9 February 2026Counterparty relationships on CME Group's new cryptocurrency futures contracts: the first LINK and XLM futures trades were executed between FalconX and Marex, while the first ADA futures block trade was executed between Cumberland DRW and Wintermute on 9 February 2026. The launch added Cardano, Chainlink, and Stellar derivatives to CME's regulated crypto offering.
• Webb TradersflagshipStrategic or Co-development Partner · 6 February 2026Acquisition agreement with European equity derivatives market maker Webb Traders, which has offices in Amsterdam and Paris and specialises in single stock options market making for European and US mid and large cap equities. Expected to close in Q2 or Q3 2026 subject to regulatory approval, bringing a technology-led team of market makers, quants and developers to enhance Marex's market making and electronic trading capabilities, and to internalise hedging, enhance profit margins, and improve client pricing.
• Christophe Roupie (MarketAxess alumnus)minorOthers · 1 January 2026Christophe Roupie appointed as Global Head of Electronic Trading and Platforms at Marex, joining from MarketAxess where he was head of EMEA and APAC and UK chief executive. Brings over 30 years of industry experience from AXA Investment Managers, Natixis Asset Management and Tradition.
• Winterflood SecuritiesflagshipStrategic or Co-development Partner · 1 December 2025Acquisition of Winterflood Securities, one of the UK's leading equity market makers, with full integration completed 1 June 2026. Enables the WRAP Public Offer Platform used for UK retail access to global IPOs (e.g., SpaceX). Custody business (WBS) is being divested to Epiris Fund III with closing expected in Q2 2026.
• Joseph Jiang (BOCI / Trafigura alumnus)minorOthers · 1 December 2025Joseph Jiang appointed as vice president of commodities sales in Marex's hedging solutions business, based in Hong Kong, bringing over 10 years of OTC sales experience from BOCI in Beijing and earlier career at Trafigura.
• Valcourt SAcoreStrategic or Co-development Partner · 22 October 2025Acquisition agreement with Swiss-based fixed income market maker Valcourt SA, expected to complete in the first half of 2026. Expands Marex's fixed income offerings within the Swiss institutional market and brings access to 700 clients.
• ILS BrokersminorStrategic or Co-development Partner · 1 December 2024ILS Brokers is part of the Marex group, facilitating deals between large institutions across foreign exchange (FX) and interest rate differential (IRD) products.
• Hamilton Court GroupflagshipStrategic or Co-development Partner · 9 October 2024Acquisition of UK-based FX specialist Hamilton Court Group, completed in 2025, bringing approximately 170 employees across London, Milan, Madrid and Toronto. Expands Marex's foreign exchange services and client base across Europe and North America, diversifying earnings and broadening product offerings.
• Aarna Capital LimitedcoreStrategic or Co-development Partner · 2 October 2024Acquisition of Abu Dhabi-based Aarna Capital Limited, completed late 2024, providing Marex with new capabilities, access to around 180 local clients in the Middle East, and accretive earnings from FY2025. Strengthens Marex's capabilities in energy, metals, and financial markets in the region.
• DropetminorStrategic or Co-development Partner · 1 October 2024Acquisition of Dropet, a Spanish biofuels company, to expand Marex's renewable products and global environmental offerings. Enhances capabilities in physical and exchange-traded biofuels products across multiple regions.
• Eagle CommoditiescoreStrategic or Co-development Partner · 1 August 2023Acquisition of Eagle Commodities (London and New York-based boutique provider of crude oil and refined product options and environmental products), referenced in the Marex Group's 2023 entry into energy options.
• CSC CommoditiescoreStrategic or Co-development Partner · 1 January 2019CSC Commodities, acquired by Marex in 2019, is part of Marex's Market Making division, focused on Energy, Freight and Environmental markets. CSC provides pricing and risk-management solutions to corporates and institutional counterparties, operating as a principal within the group.
• RCM-XcoreTechnology or IntegrationMarex partners with RCM-X to provide a full suite of execution algorithms (algo trading) to clients across energy and commodity markets.
• London Metal Exchange (LME)flagshipStrategic or Co-development PartnerMarex is a Category 1 member and Ring Dealer on the LME, providing 24-hour global market access across base, ferrous and precious metals via exchange-traded derivatives, off-exchange precious metal products, and market making.
• London Bullion Market Association (LBMA), ASX, SGX, CME/COMEX/NYMEXflagshipStrategic or Co-development PartnerMarex holds membership of LBMA, ASX, SGX, and CME/COMEX/NYMEX in addition to LME, supporting global metals market access, clearing, and market making.
• Euronext Paris, CBOT, CME, ICE Europe, ICE US, MGEXflagshipStrategic or Co-development PartnerMarex is a clearing member of Euronext Paris, CBOT, CME, ICE Europe, ICE US, and MGEX, supporting global agricultural clearing, market access and execution.
• CME Group, Coinbase, Coinbase Derivatives Exchange, Bitnomial, Cboe Clear, Deribit, GFO-XflagshipStrategic or Co-development PartnerMarex provides access to crypto exchanges and clearing venues including CME Group, Coinbase, Coinbase Derivatives Exchange, Bitnomial, Cboe Clear, Deribit and GFO-X for digital asset trading, clearing, and market making.
• UK Structured Products Association, Swiss Structured Products AssociationminorGTM or Marketing PartnerMarex is a member of the UK Structured Products Association and the Swiss Structured Products Association, supporting the structured products industry and Marex's distribution efforts in those markets.

Scale indicators23 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• StoneX Group: Publicly listed non-bank FCM and global financial services network providing clearing, execution, market making, and prime-of-prime services across commodities, FX, securities, and derivatives. Closest publicly traded peer to Marex in business mix and client base.
• R.J. O'Brien & Associates (RJO): Largest independent futures broker and non-bank FCM in the US, with clearing memberships on major global exchanges and a comparable mix of commodities, agricultural, energy, and metals execution. Directly competes with Marex for institutional clearing and execution.
• Virtu Financial: Publicly listed global electronic market maker and execution services provider across equities, ETFs, FX, fixed income, and commodities. Directly comparable electronic trading and market-making model with similar institutional client focus.
• DRW Trading: Proprietary trading firm active in commodities (including base metals and energy), digital assets, and on-chain finance — counterparty to Marex in the Canton Network onchain repo. Compares closely on commodities market making and on-chain experimentation.
• Citadel Securities: Global market maker across equities, options, fixed income, commodities, and digital assets. Overlaps with Marex in commodities and digital asset market making and is one of the largest competitors for institutional execution.
• Optiver: Global market maker in derivatives and equities with deep options, ETF, and commodities expertise. Comparable in market-making scale, proprietary technology investment, and multi-asset class franchise.
• Jane Street: Global liquidity provider and market maker across equities, ETFs, options, bonds, currencies, and digital assets. Comparable as a multi-asset electronic market maker with strong proprietary technology stack.

Broad incumbents

• BGC Group: Interdealer broker and market maker across rates, FX, credit, commodities, and equities, formed via merger of BGC Partners and GFI. Overlaps with Marex's market making and agency execution franchises but with a broader fixed-income focus.
• TP ICAP: World's largest interdealer broker with a significant commodities, energy, and rates franchise, including the Parameta data business that partners with Marex. Comparable in energy and commodities broking but broader in rates and credit.
• Interactive Brokers: Publicly listed electronic broker and clearing provider serving institutional and retail clients across 150+ markets with prime brokerage offerings. Comparable as a clearing, prime, and multi-asset execution provider.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/marexglobal
• GitHubgithub.com/marex
• YouTubeyoutube.com/@MarexGroup
• Facebookfacebook.com/MarexGroup
• LinkedInlinkedin.com/company/marex-global
• Instagraminstagram.com/marexgroup

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries25 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marex