Marex Solutions selects MDX Technology Workflow for rapid, low-code application development

• Enables Marex Solutions to quickly respond to client requests for enhanced digital services
• MDXT Connect is fully integrated with Workflow to automate and de-risk post-trade processes
• Scaled grains trading business in under 12 weeks with plans to extend across other asset classes

LONDON, April 26, 2023 /PRNewswire/ -- MDX Technology (MDXT), an innovator in connectivity and SaaS low-code workflow solutions for financial institutions, announces a significant expansion of their existing relationship with Marex Solutions. The firm is now using the MDXT low-code workflow platform to automate post-trade processes for their US-based grains business. Marex Solutions, a division of Marex, specialises in the manufacture and distribution of customised OTC Derivatives and Structured Products.

Marex Solutions is an existing customer of MDXT Connect for the distribution of real-time data from internal trading systems. The addition of the MDXT workflow module allows them to seamlessly automate addendum creation, enriched with trade, customer and legal data. In addition, it connects multiple teams within Marex Solutions and externally with their trading partners. MDXT delivered an MVP (minimum viable product) in under four weeks, and the project went live within 12 weeks. The grains business implementation is the first phase of a wider rollout across multiple asset classes.

Eugene Faller, Head of Enterprise Solutions at Marex Solutions, commented. "This project represents a customer-led pivot in how we develop and adopt modern, highly flexible technology-driven service capabilities. Traditionally new development initiatives would disrupt the core development roadmap but now we can quickly spin-up and sandbox novel ideas in parallel. Low-code means that we can test embryonic ideas and implement continuous feedback and improvement cycles as a collaborative approach with our customers. The commodities market is diverse and highly fragmented, so there is no "off the peg" solution that works well across a broad spectrum. However, with MDXT, we can now quickly and cost-effectively develop different solutions for more targeted or specialist business areas."

Nigel Someck, CEO at MDXT, concluded. "Interoperability across the trading infrastructure – the ability to seamlessly integrate multiple applications and data – has long been the holy grail for financial markets firms. Particularly in the front office, where traders across both the buy and sell side often have a number of applications open at any one time to perform a wide range of repetitive tasks. Our workflow solution is designed specifically for financial services firms. We have a unique understanding of how to connect different teams in a highly regulated and time critical environment. The Marex team are an inspiration to work with, their forward-thinking approach is completely aligned to ours and we are delighted that we have continued to further enrich the services we offer."

About MDX Technology Ltd

MDX Technology is an established tech company underpinned by deep domain expertise and experience. Our low-code, SaaS workflow and data connectivity platform is specifically designed for the global financial services industry. Our mission is to enable our clients to execute and exploit lucrative opportunities faster than their competitors. Users include international banks, brokers, exchanges, asset managers, hedge funds, and trading venues. Headquartered in London we serve Europe, North America and Asia.

About Marex

Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.

The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Agency Execution, Clearing, and Hedging & Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing over 205 million contracts in 2022. The Group provides access to the world's major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.

Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America.

Marex Solutions, a division of Marex Group plc is a specialist producer of tailored OTC derivatives and Structured Products on equities, commodities, credit, FX, funds, fixed income and digital assets.

For more information visit www.marex.com

SOURCE MDX Technology