Marex Becomes Pioneer in Employing Kinexys' Digital Payment Solutions for Clearing Operations
In a groundbreaking move, Marex Group plc and Brevan Howard Digital have joined forces to enhance financial market efficiency and reduce settlement risk using J.P. Morgan's Kinexys Digital Payments. This collaboration aims to enable near-instant, programmable, and 24/7 settlements through blockchain deposit accounts.
The partnership promises significant benefits, including reduced settlement time, costs, and counterparty risk, while maintaining security standards comparable to traditional payment rails.
Programmable Blockchain Infrastructure
Kinexys, the technology at the heart of this collaboration, supports automation and programmability of payments and settlements. This unlocks greater asset utility and operational efficiencies.
Instant and Atomic Settlements
The platform facilitates simultaneous transfer of assets and funds (atomic settlements), eliminating manual reconciliation steps that traditionally increase risk and operational burden.
Always-on, Permissioned Network
Operating continuously and within a permissioned environment ensures institutional-grade security and compliance, fostering trust among market participants.
Broader Ecosystem Development
Brevan Howard Digital has been actively engaged since 2024 in expanding this blockchain ecosystem, helping to standardize and promote the adoption of these next-generation settlement technologies across the industry.
Modernization of Legacy Infrastructure
The partnership signals a shift away from slower, legacy payment systems towards scalable, transparent, and more efficient blockchain-based infrastructure, benefiting complex and high-volume financial transactions.
Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex, emphasized that the collaboration brings greater operational efficiency to Marex clients and the wider market by leveraging automation to reduce risk and improve service.
Akshika Gupta, Global Head of Client Solutions at Kinexys by J.P. Morgan, views the collaboration as a significant milestone in the advancement of financial market infrastructure. She highlights Kinexys Digital Payments' dedication to driving progress and delivering cutting-edge infrastructure for clients and the industry.
Adam Gibbons, COO at Brevan Howard Digital, commented that the collaboration is a tangible example of how blockchain technology can drive efficiency gains and strengthen risk management controls.
Marex is the first clearing firm to use Kinexys Digital Payments' blockchain deposit accounts, marking a significant step forward in the adoption of this innovative technology.
The technology maintains the same level of security provided by traditional payment settlement rails, ensuring peace of mind for all parties involved.
In summary, this collaboration utilizes J.P. Morgan’s Kinexys technology to drive faster, safer, and more efficient payment settlements in financial markets, reducing counterparty risk and streamlining operational workflows through blockchain-enabled innovation.
Technology, finance, and business converge in this collaboration as Marex Group plc, Brevan Howard Digital, and J.P. Morgan's Kinexys Digital Payments team up to modernize legacy infrastructure, aiming to deliver faster, safer, and more efficient payment settlements. By harnessing programmable blockchain infrastructure, this partnership promises increased operational efficiency, reduced costs, and improved risk management in financial markets.
