AUCKLAND, New Zealand, July 16, 2024 (GLOBE NEWSWIRE) -- Marex Group Plc (NASDAQ: MRX), the diversified global financial services platform, has opened a new office in Auckland, New Zealand, as it expands its operations in Asia Pacific and extends its global environmental offering, aligned with its strategy to diversify its business and increase earnings resilience.
Marex’s New Zealand office will provide expertise in the financial and commodity markets with an experienced team, led by Nigel Brunel, who brings to Marex almost two decades of experience in global commodities. The team will initially serve New Zealand-based and global clients with agency and execution and clearing services across carbon, electricity and dairy, in listed and over the counter (OTC) products.
This new office marks another step in Marex’s strategy to expand its geographic reach across Asia Pacific, adding more clients and connecting those clients to more markets. It also supports Marex’s strategy to grow its global environmental offering, which covers over 50 products across carbon management, clean energy and recycled metals, and support its clients as they transition to a low carbon economy.
Marex will launch a new customer-focused carbon trading platform, Neon Carbon, for domestic compliance credits. Neon Carbon, which was developed in response to demand from New Zealand market participants, will be managed by a dedicated team of experts who have a range of experience dating back to the establishment of the Emissions Trading Scheme in New Zealand.
Marex’s Chief Executive Officer of Asia Pacific, Arthur Fan, said: “Our Auckland office complements our existing network of over 35 offices around the world, spanning Europe, the Americas and Asia, and brings better access for our global clients, who are increasingly interested in trading New Zealand carbon, electricity and dairy. The Auckland office opening has been warmly welcomed by New Zealand-based clients, who are keen to see increased competition and better global connectivity.”
“In addition, we are excited to launch Neon Carbon, which has been specifically developed for New Zealand as part of our global client technology platform Neon, to provide access to liquidity in the New Zealand emissions market.”
Marex’s New Zealand Managing Director, Nigel Brunel, said: “It’s great to see a diversified commodity and financial group set down roots in New Zealand. This is a positive development for New Zealand’s financial markets, and we’re excited about the opportunity to bring the full suite of Marex’s offering to New Zealand clients from Auckland.”
In 2023 Marex became a futures clearing and trading participant of the Australian Securities Exchange (ASX) and the Singapore Exchange (SGX), meaning New Zealand clients can also benefit from clearing directly through Marex on ASX and SGX, in addition to global exchanges, without the need to go through a third party clearer.
About Marex:
Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The Group provides comprehensive breadth and depth of coverage across four core services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, executing around 129 million trades and clearing 856 million contracts in 2023. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. Headquartered in London with more than 35 offices worldwide, the Group has over 2,000 employees across Europe, Asia and the Americas. For more information visit www.marex.com.
