OTC trading platform of the year: Marex

Marex began developing its Agile platform in 2018, when the financial services firm first established its Marex Solutions division and entered the over-the-counter (OTC) commodity derivatives markets.

“At the time, clients consistently told us that the OTC market lacked transparency,” says David Cohen, head of Marex Hedging Solutions. “Our goal was to create a platform that gave clients full control and visibility across the entire lifecycle of their trades, from pricing and execution through to workflow and reporting.” 

Marex’s Agile platform is a full-service OTC trading solution built entirely in-house to meet the needs of corporates and professional investors, the company says.

It has two main use cases. It is used by non-financial companies to manage commodity and currency hedging portfolios, providing seamless execution, real-time transparency and full control throughout the hedging lifecycle. For professional investors, meanwhile, it enables the structuring, pricing and execution of highly customised financial products.

What sets Agile apart, says Cohen, is its “unique integration of both hedging and investment capabilities in a single platform”. It provides users with extensive customisation, transparency and automation, he says. “Unlike standardised platforms, Agile empowers users to tailor hedging strategies and structured investments precisely to their risk profiles and financial goals. Its real-time pricing and automated lifecycle management deliver superior execution and risk visibility, setting new standards within the OTC trading landscape.”

Our goal was to create a platform that gave clients full control and visibility across the entire lifecycle of their trades, from pricing and execution through to workflow and reporting

David Cohen, Marex Hedging Solutions

The company also reports “impressive growth” over the past 12 months, including what Dinesh Gupta, deputy head, Asia-Pacific (Apac) hedging solutions, describes as a “successful entry into Asian energy markets”, with newly available derivatives. These include the introduction of Asian swaps and composite swaps on energy underlyings.

“These products have been an important step in broadening the derivatives we offer digitally on Agile, giving clients greater flexibility and control in how they structure and execute their trades,” says Gupta. “For example, swaps can now be quoted in US dollars while being traded on the platform in euros, adding a layer of flexibility for clients. This is particularly relevant for Asia-specific underlyings such as crude palm oil, where exchange contracts are denominated in Malaysian ringgit.”

The enhancements have contributed to “strong client adoption and a marked increase in trading volumes”, he adds, with trade volumes in the region up 60% over the past year and the number of clients in the region doubling.

Over the past 12 months, Marex has added new functionalities to Agile, including expanding the metal underlyings available to include execution capabilities in additional London Metal Exchange metals that were not previously available. “This broader coverage enables clients to access and execute a wider range of metal exposures directly on the platform,” says Magalie Lanctuit, head of digital execution.

Marex has also enhanced Agile’s reporting features. “We’ve continuously invested in improving lifecycle monitoring for clients. Most recently, we introduced a module that gives them better visibility over their portfolios, including enhanced sorting and search functionality,” says Nicholas Burke, head of Apac hedging solutions. “Clients can now access all their trade confirmations and credit facility letters directly through the platform. We’ve also improved how cash positions are displayed, making it easier for clients to track and manage their balances in real time.”

Finally, Marex Solutions has added to Agile’s risk management capabilities and automated lifecycle processes to streamline user workflows. Real-time pricing accuracy and execution speeds have been improved, reducing operational risk. The platform now offers expanded execution capabilities on energy, broader asset coverage on metals and improved post-trade features.

Looking ahead, Marex plans to further expand Agile’s asset coverage over the coming 12 months to include new foreign exchange capabilities in response to evolving client demands. “We will enhance automation features to reduce operational complexity and streamline execution,” says Eugene Faller, head of enterprise solutions.  “Focus will also be placed on deepening institutional adoption through strategic partnerships and integrations, while improving analytics and reporting capabilities to better support client decision-making in dynamic markets.”

Every part of the platform has been built in response to direct user feedback and real-world trading needs, Faller adds. “This award recognises not just our team’s commitment to customer-led design, but also the trust and investment our users have made in helping us create the most intuitive, efficient and reliable energy OTC trading platform on the market. It’s their success story as much as ours."