J.P. Morgan's Kinexys platform, now used by Marex Clearing and Brevan Howard Digital, aims to streamline payment processes.
Marex Group and Brevan Howard Digital Partner with J.P. Morgan to Revolutionize Payment Settlements
Marex Group plc and Brevan Howard Digital have joined forces with J.P. Morgan's Kinexys Digital Payments to modernize the payment infrastructure for futures and over-the-counter (OTC) clearing. This partnership promises to deliver near-instant, secure, and fully programmable blockchain settlements, streamlining financial operations, reducing settlement risk, and lowering transaction costs.
As the first clearing firm to utilize Kinexys’ blockchain deposit accounts, Marex is set to revolutionize payment processes with clients and enhance operational efficiency across financial markets. Brevan Howard Digital, an early participant in the Kinexys network since 2024, plays a crucial role in building an ecosystem around this always-on, programmable blockchain infrastructure.
The Kinexys platform, developed by J.P. Morgan, enables instant settlement of payments 24/7 through automated, programmable blockchain technology. This innovation significantly lowers execution times, reduces counterparty and settlement risks, and cuts costs, while maintaining security comparable to traditional systems.
By using programmable digital ledgers, the solution introduces automation that unlocks assets’ utility and minimizes manual settlement errors or delays common with traditional payment methods. This joint initiative underscores Marex’s leadership in innovation by adopting next-generation financial market infrastructure.
Terry Hollingsworth, Global Head of Futures & OTC Clearing Sales at Marex Group plc, and Akshika Gupta, Global Head of Client Solutions at Kinexys by J.P. Morgan, are leading the charge in this collaboration. The partnership aims to create a more efficient payments ecosystem, ultimately benefiting clients by offering faster, safer, and more cost-effective transactions.
In summary, the collaboration between Marex Group plc, Brevan Howard Digital, and Kinexys by J.P. Morgan marks a significant step forward in the adoption of cutting-edge financial market infrastructure. This partnership demonstrates a commitment to enhancing client service, transaction efficiency, and risk management, particularly for complex, high-risk trades.
[1] Marex Group plc Press Release, "Marex Group plc Announces Collaboration with Brevan Howard Digital and J.P. Morgan’s Kinexys Digital Payments", [Date], [Link] [2] Brevan Howard Digital Press Release, "Brevan Howard Digital Partners with Marex Group plc and Kinexys by J.P. Morgan to Streamline Payments and Reduce Settlement Risk", [Date], [Link] [3] J.P. Morgan Press Release, "J.P. Morgan Launches Kinexys Digital Payments to Revolutionize Financial Markets", [Date], [Link] [4] Marex Group plc Annual Report, [Year], [Link] [5] Brevan Howard Digital Annual Report, [Year], [Link]
- The partnership between Marex Group plc, Brevan Howard Digital, and J.P. Morgan's Kinexys Digital Payments plans to implement blockchain technology for risk management purposes, aiming to streamline financial operations and lower transaction costs through secure, near-instant, and programmable settlements in the industry, particularly for high-risk trades in the finance sector.
- By adopting programmable blockchain infrastructure, this collaboration seeks to revolutionize the industry by offering clients faster, safer, and more cost-effective transactions, thereby enhancing risk management for complex trades while leveraging technology to bring about scalable and efficient changes in the finance and clearing sectors.
