The Singapore Exchange (SGX) has welcomed UK-based Marex Financial Limited, a subsidiary of Marex Spectron, as the newest trading member in its derivatives market, according to an SGX statement.

SGX’s admission of Marex Financial Limited now currently brings the total number of trading members across its derivatives market to 50. The exchange’s derivatives market also boasts 26 Clearing Members – more specifically there are 11 Clearing Members for over-the-counter (OTC) traded financial derivatives on SGX AsiaClear. Across SGX’s securities market, there are also 26 Trading Members and 25 Clearing Members respectively.

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According to Chew Sutat, Head of Sales and Clients at SGX, in a recent statement on the membership addition: “We are pleased that Marex Financial has joined our derivatives market as a trading member. The participation of Marex Financial and their network of clients will add liquidity in our suite of derivatives products.”

“We are extremely pleased to be admitted as a derivatives trading member of SGX. SGX plays a vital role in the development of the derivatives market and we look forward to working together as we continue to grow our business in Singapore,” added John Wall, CEO of Marex Spectron, in an accompanying statement.

Earlier this month, Thomson Reuters unveiled the launch of its market data services suite at the SGX co-location data center in an attempt to undercut the cost of ownership for local financial firms. The group integrated with the SGX and consequently with several new new markets and trading venues in the region given the propensity for many smaller domestic firms to suffer from small infrastructure footprints.

Marex Financial Limited is a broker of financial instruments in the commodities sector and energy markets that provides both voice and electronic trading and clearing services. The international group also brokers financial futures, equities, fixed income products and foreign exchange (FX), in addition to its core commodity markets offering.