The award highlights their pioneering work in developing a new market-making framework for option portfolios — a long-standing challenge in derivatives trading. Their model introduces a closed-form, portfolio-level approach that accounts for risk, market microstructure and trader signals. The result is a practical, elegant and commercially deployable solution that sets a new standard for our industry. 

This innovation is already being integrated into Marex Solutions’ market-making infrastructure, marking a major step forward for our quant capabilities and for the clients we serve. 

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“At the time, clients consistently told us that the OTC market lacked transparency,” says David Cohen, Head of Marex Hedging Solutions. “Our goal was to create a platform that gave clients full control and visibility across the entire lifecycle of their trades, from pricing and execution through to workflow and reporting.”

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The award recognises the firm’s role in bridging the gap between traditional investors and the fast-evolving digital asset space. Over the past year, Marex has developed innovative, capital-efficient ways for clients to engage with digital assets, while delivering bespoke solutions to meet the needs of a diverse client base. 

This recognition underlines a broader strategy of combining the strengths of traditional finance with the opportunities of new markets. By building on a strong foundation in derivatives and structured solutions, Marex has created products that bring digital assets into the mainstream in a way that is both practical and client-focused. 

The award also reflects the trust placed in Marex by its clients and the firm’s ongoing commitment to delivering value as the digital asset market continues to evolve.

Learn more about our digital asset offerings

Agile is a full-service platform built in-house by Marex Solutions, designed to address the complexity and opacity often found in OTC derivative markets. With two primary use cases—managing commodity and currency hedging portfolios for corporates, and enabling professional investors to structure, price, and execute bespoke financial instruments—Agile offers seamless execution, real-time transparency, and full control throughout the entire lifecycle of trades. 

What makes Agile unique is its flexibility and automation, allowing users to tailor solutions to their precise financial objectives. It integrates advanced risk controls and supports multiple asset classes, including cutting-edge crypto-structured products, redefining industry standards for sell-side firms operating in volatile markets. 

Over the last 12 months, Agile has expanded its reach into Asian markets, introduced new energy derivatives, and enhanced platform performance to improve scalability and user experience. Looking ahead, we are committed to further expanding asset coverage and automation capabilities while strengthening institutional adoption. 

This award is a testament to the hard work of our dedicated team and the trust our clients place in us every day. A big thank you to our clients for their ongoing collaboration and valuable feedback, which continues to drive Agile’s success.

The winning deal? Our Phoenix Autocallable on iShares® Bitcoin Trust — the first-ever autocallable crypto product listed on Borsa Italiana. This yield enhancement product offered exposure to the ETF replicating Bitcoin, providing a unique way for investors to access digital assets. Combining our experience in the autocallable market with digital assets, the product allowed for the monetisation of Bitcoin’s implied volatility.

The product offered conditional downside protection of up to 40%, along with a compelling 4% quarterly coupon — that’s 16% annually. With a smartly structured decreasing autocall feature, the note was automatically redeemed at the very first observation date.

Beyond the numbers, this deal reflects the careful work of a team focused on delivering well-structured and relevant solutions to clients. It was a thoughtfully designed product, shaped by the expertise of our team.

Over the past three years, the Financial Products team has consistently expanded our offering to the market. From launching our first Credit Linked Note listed on Borsa Italiana and a Crypto Autocallable to earning multiple accolades such as Certificate of the Year at the 2023 and 2024 Italian Certificate Awards, our approach has been to capture our clients’ needs and bring their investment ideas to life, ensuring they can rely on us to deliver the solutions they envision. By the end of 2024, we had cemented our place among the top issuers on the Italian exchange, recording over €1.5 billion in traded volume since March 2022.

This latest award is a recognition of the progress we’ve made. As we continue to grow in Italy, across Europe, and beyond, our focus remains on delivering thoughtful, well-structured products that meet our clients’ needs.

This achievement is a testament to the hard work and dedication of our innovative team, who continuously push boundaries to deliver excellence.

A huge thank you to our team, partners, and, most importantly, our clients for their trust and support.

The first product issuance in March 2022 marked the beginning of the Italian journey for Marex FP, as we began serving professional clients in a market seeking both sophistication and flexibility. This signalled Marex’s commitment to offering innovative financial solutions that cater to the evolving needs of investors in the Italian market. 

Since then, Marex has issued more than 800 products in Italy, with a total traded volume on Cert-X (Borsa Italiana) exceeding 1.5 billion EUR since inception. This growth is a testament to the trust our clients place in our proven capability to deliver tailored solutions. 

As the team settled into this new territory, the journey quickly gained traction. In 2023, just one year after entering the market, Marex FP was already making an impact. Recognising the importance of being close to our clients, we made the strategic decision to relocate the team from London to Milan in July 2023. This move allowed us to engage more directly with our clients, better understand their specific requirements, and provide a heightened personalised service. 

The results of this dedication became quickly evident. By the time the 2023 Italian Certificate Awards took place, Marex had already earned multiple accolades, showcasing the success of our products and the strength of our team; we were honoured with the Certificate of the Year, secured second place in both Issuer of the Year and Innovation Capacity, and earned second place for the Certificate Journal Special Award. These wins not only validated our efforts but also underscored the growing trust in Marex as an issuer of innovative financial products.

As we continued to build on this momentum, 2024 marked even more significant milestones. In February of that year, we issued our first Credit Linked Note (CLN) on Borsa Italiana. This achievement was a significant step forward, reflecting Marex’s commitment to innovation and delivering tailored solutions to our clients. This move supported our growth and helped solidify our presence in the Italian market. 

By mid-2024, Marex FP launched the first-ever Crypto Autocallable product, offering exposure to Bitcoin through the iShares® Bitcoin Trust. This product positioned Marex as a pioneer in the rapidly growing digital asset industry. The launch of the Crypto Autocallable demonstrated Marex’s forward-thinking approach, reinforcing our presence in both traditional structured products and digital assets. 

As 2024 continued, our dedication to providing Italian investors with innovative solutions became apparent as we ranked among the top issuers in the market; ranking #4 on Cert-X and #6 overall by turnover on Borsa Italiana. This reflected the trust and confidence that investors had placed in Marex, as well as our team’s hard work, dedication, and ability to adapt to the market’s changing demands.

Furthermore, Marex was once again recognised at the 2024 Italian Certificate Awards, winning the Certificate of the Year category for the second year in a row. This achievement highlighted the consistency and quality of our product offering. We also received second place for the Special Award for Certificate Journal, Best Issuer with Capital Protection – Direct Listing, and Best Low Strike Certificate. 

Building on this strong track record, Marex FP’s momentum continued into 2025, with further recognition at the Italian Certificate Awards. For the third consecutive year, Marex FP was recognised at the awards, underlining the consistency and strength of its structured product offering. The team also secured first place for Best Low Strike Certificate with the Phoenix Memory Airbag Step Down, a structure designed to combine limited downside risk with attractive income potential. In addition, Marex received second place for Certificate of the Year, second place for Best Issuer with Conditional Capital Protection – Direct Listing, and third place for Best Yield Enhancement Certificate, reflecting the breadth of its activity and its continued focus on delivering solutions aligned with investor needs in the Italian market. 

In just four years since issuing our first structured product in the Italian market in March 2022, Marex FP has gone from strength to strength, climbing the certified rankings and winning awards.

Key Milestones: A Visual Timeline of Marex Financial Products’ Success in Italy

Looking Ahead

As we reflect on our journey to date, Marex FP has made steady progress in the Italian market . Our approach has always been centered on understanding and meeting the needs of our clients, and as a result, we’ve introduced products in response to demand. Since our first product launch in 2022, we have become one of the top issuers on Borsa Italiana, and the recognition we’ve received speaks to our team’s relentless focus on client solutions and product innovation.

Looking ahead, we’re committed to build on this foundation by continuing to develop products that address client needs and strengthening our relationships with Italian investors. Our journey in Italy is just at the beginning, and we’re dedicated to maintaining this steady growth and further establishing our presence in the market by meeting our client’s expectations and beyond.

This award recognises the company’s efforts in delivering structured financial products and services and providing bespoke investment solutions for clients.

The Rising Issuer Award represents a significant milestone in Marex Financial Products’ journey.

To read more about his insights and experiences you can read the full article here.