Financial results
Marex’s clearing balances rose 41% as net interest income increased 35%
A reconstructed yield fell about eight basis points as rates eased. Marex offset the pressure by carrying a much larger clearing-balance base.
Client balances
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Broker updates
Marex held $6.6 billion more in average balances but earned less net interest as funding costs rose
A reconstruction of Marex’s third-quarter interest bridge shows gross income rising on a 35.5% larger balance base, before higher client payouts and group funding costs reduced consolidated net interest income.
Financial results
R.J. O’Brien supplied 84% of StoneX’s quarterly increase in client-balance income
StoneX’s reported increase was real, but most of it came from adding R.J. O’Brien to the reporting perimeter. The acquired broker also supplied 78% of the rise in average client equity while StoneX’s FX and CFD revenue fell.