Marex Clearing Becomes First Client to Embrace Kinexys Payment System Powered by J.P. Morgan in Collaboration with Brevan Howard Digital for Streamlined Transactions
Marex Group, Brevan Howard Digital, and J.P. Morgan Partner to Revolutionise Financial Settlements
Marex Group plc, Brevan Howard Digital, and J.P. Morgan's Kinexys Digital Payments have joined forces to bring new efficiencies to the financial markets. This collaboration aims to streamline payment processes and reduce settlement risk by leveraging blockchain technology.
Marex Group plc, a market leader in innovation, is the first clearing firm to use Kinexys Digital Payments' blockchain deposit accounts. This system, part of J.P. Morgan's industry-leading blockchain business unit, enables instant, programmable, and near real-time settlements.
The technology used in this collaboration allows for instant settlement of payments, reducing settlement risk, time, and cost. It maintains the same level of security provided by traditional payment settlement rails, ensuring a secure environment for all parties involved.
Kinexys Digital Payments operates continuously, enabling instant 24/7 settlements. This feature reduces the liquidity demands and risk associated with waiting periods in traditional batch settlements. The system also supports programmable transactions, enabling automation and reducing manual intervention, operational errors, and processing costs.
Brevan Howard Digital, an active participant in creating an ecosystem for utilizing Kinexys Digital Payments' blockchain infrastructure since 2024, will play a crucial role in expanding institutional adoption of 24/7 blockchain settlements.
Adam Gibbons, the COO of Brevan Howard Digital, and Akshika Gupta, the Global Head of Client Solutions at Kinexys by J.P. Morgan, will spearhead this initiative. Terry Hollingsworth, the Global Head of Futures & OTC Clearing Sales at Marex Group plc, is also involved in the collaboration.
This partnership transforms traditional post-trade settlement infrastructure into a next-generation, efficient, and lower-risk platform for payments and asset transfers in financial markets. It affirms Marex Group plc's position as a market leader in innovation and contributes to broader financial market modernization.
The partnership between Marex Group, Brevan Howard Digital, and J.P. Morgan's Kinexys Digital Payments aims to revolutionize financial settlements by integrating blockchain technology for risk management, thereby reducing settlement risk and streamlining payment processes in the business world. By leveraging this technology, the system allows for instant, programmable, and near real-time settlements, maintaining secure environments for all parties while also eliminating the need for manual intervention and reducing operational errors and processing costs.
