Financial services platform Marex has cleared the first ever US Treasury (UST) delivery on FMX Futures Exchange.
Steve Hood
The offering is set to provide Marex’s clients with opportunities to save capital, made possible through the firm’s clearing partnership for interest rate swaps with LCH, as well as offer access to competitive offsetting between UST futures positions on FMX and LCH IRS portfolios.
The move follows the launch of FMX in September 2024 through a partnership with BGC and a consortium of investment banks and market-making firms, initially opening with the trading of SOFR futures contracts on the exchange.
Specifically, FMX aims to function as a combined US interest rate futures exchange, spot foreign exchange platform and US cash treasuries platform, and rivals others in the futures trading sphere, such as CME Group, ICE, and Cboe Global Markets.
“Initiatives like this reinforce Marex’s position as a leading non-bank alternative to traditional investment banks,” said Steve Hood, Marex head of clearing, US.
“As one of the few non-bank FCMs with an investment grade credit rating, we’re able to be a first mover in the market, responding to our client’s unique needs with innovative products and services.”
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Additionally, the delivery follows FMX’s launch of two-year and five-year UST futures contracts in May 2025.
“The first US Treasury delivery on FMX is a significant moment for our exchange and for the market,” said Robert Allen, president of FMX Futures Exchange.
“Since launching in September 2024 with SOFR futures, our goal has been to build a diverse, resilient platform that delivers real value to market participants. Today’s milestone underscores the momentum behind FMX and our commitment to offering innovative, client-driven solutions.”
The move follows further derivatives related developments for Marex in recent months. In June, the firm announced a partnership with NatWest to provide a new service, allowing clients who access FX futures through Marex, and FX prime brokerage services through NatWest’s markets business will receive margin relief.