06.04.2021

Marex Launches Equities Market Making

Genesis has been selected by Marex, a tech-enabled liquidity hub for participants in global commodities and financial markets to fully digitise middle office workflows for its new equities market making business.

Genesis has provided Marex with an agile middle office application enhanced with MiFID II transaction reporting. The solution was built on the back of an existing application from the Genesis Application Library, augmented to meet the growing client demand for productivity tools and improved client services. The application is multi-asset class and integrates seamlessly through APIs with Marex Spectrum’s existing technology and UnaVista (a regulatory reporting platform), reducing cost, operational and regulatory risk.

The middle office application is built on the Genesis Low-Code No-Code (LCNC) Platform, which is the only low-code platform native to financial markets and built to address the specific requirements of the industry. It enables the rapid creation and deployment of applications to meet the traditional automation and simple Business Process Management (BPM) needs as well as the complex use cases requiring sophisticated event handling processors and performance attributes such as low latency and high throughput.

Developed on the Genesis low-code no-code framework, the middle office application is a productivity tool that digitises previously manual, resource intensive and error-prone tasks such as: trade capture data, trade allocation & matching, fee management and client trade confirmation. The agnostic, multi-asset class application enables direct trade capture and fully supports the management of Standard Settlement Instructions (SSI) data.

Ben Bennett, Global Head of Operations at Marex, said: “We wanted to move at pace to have our equities business up and running. Genesis enabled us to go from idea to a fully functioning middle office operation, custom-built to streamline and satisfy both our internal and external reporting requirements, in under four months. We now have even greater operational efficiency, and we are able to provide our clients with access to our new equities franchise.  The adaptability and the speed at which Genesis built a custom solution providing us with a complete one-stop shop has been very impressive. “

Stephen Murphy, CEO of Genesis, said: “We are very excited by our collaboration with Marex and to have enhanced the middle office application with a robust, regulatory reporting mechanism to simplify and take the pain out of fulfilling MiFID II transaction requirements. Our goal is to improve the way financial markets firms develop applications and to drive innovation across their business. This is exactly what the Genesis low-code no-code platform is designed to deliver, and we are delighted to be playing our part as Marex Spectron continues to grow its equities market making business.”

Source: Genesis

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