# MAREX CAPITAL MARKETS INC. X-17A-5 (2025-02-28) — Broker-dealer annual report

- Company: MAREX CAPITAL MARKETS INC.
- Form: X-17A-5
- Filed: 2025-02-28
- Period: 2024-12-31
- Accession: 0001540527-25-000003
- CIK: 1540527
- File #: 8-69039
- Type: Broker-dealer
- Material weakness: Yes
- Auditor: Deloitte & Touche LLP
- Auditor location: New York, NY
- Contact: Chris Bates
- Phone: 212-844-3693
- Email: cbates@.marex.com
- Website: marex.com
- Signed by: Ram Vittal (Chief Executive Officer)

Original filing: https://www.sec.gov/Archives/edgar/data/1540527/000154052725000003/MAREXCAPMKTPublic2024.pdf

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|                                                                                                                                                                                                                                                                                                      | UNITED STAT.ES                                                                                                         |                                                 | 0MB APPROIIAL                              |  |  |  |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|--------------------------------------------|--|--|--|
|                                                                                                                                                                                                                                                                                                      | SECURITIES AND EXCHAN~E COMMISSIO~                                                                                     | OMB'Numbec. 3~S-01,:n<br>Fxpires:•NOV. 30, 2026 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        | Estimated averag11."burden                      |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        | hours per resP,Onse; ti                         |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        | SfC FILE NUMBER                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | FORl\/1 X-17A-5                                                                                                        |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | PART Ill                                                                                                               |                                                 | 8-69039                                    |  |  |  |
|                                                                                                                                                                                                                                                                                                      | FACING· PAGE                                                                                                           |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | Information R~qulred P1,1rsuarit to Rules 17a-5, 17a•12,.ai1d 18a-7 under the Securitle~ Exchange Act l1f 1934         |                                                 |                                            |  |  |  |
| FILING FOR THE Pf~IOD BEGINNING O j /01 /2024                                                                                                                                                                                                                                                        |                                                                                                                        |                                                 | AND .ENDING 12/31/2024                     |  |  |  |
|                                                                                                                                                                                                                                                                                                      | MM/ DD/YY                                                                                                              |                                                 | MM/DD/YY                                   |  |  |  |
|                                                                                                                                                                                                                                                                                                      | A. REGISTRANT IDENTIFICATION                                                                                           |                                                 |                                            |  |  |  |
| NAME OF FIRM: Marex Capital Markets Inc.                                                                                                                                                                                                                                                             |                                                                                                                        |                                                 |                                            |  |  |  |
| TYPE·OF REGISTRANT (check .all ·applicable· boxes):<br>0 Broker-dealer<br>0 Check J,ere if rj!spondeht is also an OTC derivatives dealer                                                                                                                                                             | D Security-based swa·p dealer                                                                                          |                                                 | D Major security-based swap participant    |  |  |  |
| ADDRESS OF PRINCIPAL PLAq OF BUSINESS:.(Po not use a P.0  box no.)                                                                                                                                                                                                                                   |                                                                                                                        |                                                 |                                            |  |  |  |
| 140 East 45th Street, 1.0th Floor                                                                                                                                                                                                                                                                    |                                                                                                                        |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | (No. and Street)                                                                                                       |                                                 |                                            |  |  |  |
| New York                                                                                                                                                                                                                                                                                             | New York                                                                                                               | 10017                                           |                                            |  |  |  |
| (City)                                                                                                                                                                                                                                                                                               | (Stat\!)                                                                                                               |                                                 | (Zip.Code)                                 |  |  |  |
| PERSON TO CONTACT WITH ·REGARD TO THIS FILING                                                                                                                                                                                                                                                        |                                                                                                                        |                                                 |                                            |  |  |  |
| Christopher Bates                                                                                                                                                                                                                                                                                    | 212~844-3693                                                                                                           |                                                 | cbates@.marex.com                          |  |  |  |
| (Name)                                                                                                                                                                                                                                                                                               | (Area Code-Telephone Number)                                                                                           | (Emai Address)                                  |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | B. ACCOUNT.ANT IDENTIFICATION                                                                                          |                                                 |                                            |  |  |  |
| INDEPENDENT PUBLIC AC.COU~TANT whose reports are contained. in this filing*                                                                                                                                                                                                                          |                                                                                                                        |                                                 |                                            |  |  |  |
| DeloittE? ~ T ouche LLP                                                                                                                                                                                                                                                                              |                                                                                                                        |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        |                                                 |                                            |  |  |  |
| 30 Rqckefeller Plaza                                                                                                                                                                                                                                                                                 | (Name-if.individual, state last, first,.and mi.ddle na!"e)<br>New York                                                 | NY                                              | 10112                                      |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        |                                                 |                                            |  |  |  |
| (Add.ress)                                                                                                                                                                                                                                                                                           | (City_l                                                                                                                | (State)                                         | (Zip Code)                                 |  |  |  |
| 10/20/2003                                                                                                                                                                                                                                                                                           |                                                                                                                        | 34                                              |                                            |  |  |  |
| {Date ci R~istration with PCAOB)(if applicable)                                                                                                                                                                                                                                                      | FOR OFF.ICIAL USE ONLY                                                                                                 |                                                 | IPCAOB,Relistration Number, if applicable) |  |  |  |
|                                                                                                                                                                                                                                                                                                      |                                                                                                                        |                                                 |                                            |  |  |  |
| • Claims'for exemption from the requirement that the.annual reports be covered by the reports.ofan independent pul;llic<br>CFR'240. 17~5(e)(l)(ii), 1f applicable.<br>Persons·who are to respond to the coilectiorroJ information contained in this form ,re not required to respond unless the form | accountant must be supported by a itat@m~nt of facts and circumstances relied on as the basis of.the exemption. 5"e 17 |                                                 |                                            |  |  |  |
| displays a currently valid 0MB control number.                                                                                                                                                                                                                                                       | •                                                                                                                      |                                                 |                                            |  |  |  |
|                                                                                                                                                                                                                                                                                                      | File? pursuant to Rule 11a5(e)(3) urider the Securities.Exchange                                                       |                                                 |                                            |  |  |  |

Act of 1934 as a PUB.LIC'D9CUMENT

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#### OATH OR **AFFIRMATION**

| I Ram Villal                                                          |                                                      | swear (or affirm) that, to the best of my knowledge and belief, the                                                                 |       |
|-----------------------------------------------------------------------|------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------|
| financial report pertaining to the firm of Marex Capital Markets Inc. |                                                      |                                                                                                                                     | as of |
| _1_2_/_3_1 __________ __, 2~                                          |                                                      | is true and correct. I further swear (or affirm) that neither the company nor any                                                   |       |
|                                                                       |                                                      | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely |       |
| as that of a customer.                                                | LORETTA A WAGNER<br>Notary Public, State of New York |                                                                                                                                     |       |

**No. 01WA6039830 Qualified In Richmond Coun~ er-** ~ **Commission El<pl,.."""' 10, 2** <sup>~</sup>

~ ~ fl dwi·v1 ' **o ary Public** 

#### **This filing•• contains (check all applicable boxes):**

- ii (a) Statement of financial condition.
- ii (b) Notes to consolidated statement of financial condition.
- □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, **a** statement of comprehensive income (as defined in§ 210.1·02 of Regulation S·X).
- D (d) Statement of cash flows.
- D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- □ (fl Statement of changes in liabilities subordinated to claims of creditors.
- D (g) Notes to consolidated financial statements.
- D (h) Computation of net capital under 17 CFR 240.1Sc3•1 or 17 CFR 240.18a-l, as applicable.
- D (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- D UJ Computation for determination of customer reserve requirement s pursuant to Exhibit A to 17 CFR 240.1Sc3•3.
- □ **(k)** Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.1Sc3·3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- □ (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.1Sc3•3.
- D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3•3.
- □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2} or 17 CFR 240.18a-4, as applicable.
- □ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-l , 17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.1Sc3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- ii (q) Oath or affirmation in accordance with 17 CFR 240.17a•S, 17 CFR 240.17a•l2, or 17 CFR 240.18a-7, as applicable.
- D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- 0 (s) Exemption report in accordance with 17 CFR 240.17a-S or 17 CFR 240.18a-7, as applicable.
- iiii (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ {u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-S, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- D (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.l 7a-5 or 17 CFR 240.18a-7, as applicable.
- D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.1Sc3-le or 17 CFR 240.17a-12, as applicable.
- D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). D (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_
- 

<sup>0</sup> To request conf idential treatment of certain portions of this f iling, see 17 CFR 240.17a-5/e)(3) or 17 CFR 240.18a-7(d)/2), as applicable.

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# **Deloitte.**

Deloitte & Touche LLP 30 Rockefeller Plaza New York, NY 10112-0015 USA

Tel : + 1 212 492 4000 Fax: +1 212 489 1687 www.deloitte.com

#### **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Stockholder and the Board of Directors of Marex Capital Markets Inc.:

#### **Opinion on the Financial Statement**

We have audited the accompanying statement of financial condition of Marex Capital Markets Inc. (the "Company") as of December 31, 2024, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

#### **Basis for Opinion**

The financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud.

Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit of the financial statement provides a reasonable basis for our opinion.

February 28, 2025

We have served as the Company's auditor since 2023.

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| 55(65                                                                                       |      |
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| /A6                                                                                         | <br> |
| /A6/<2A31C@7B73AA35@35/B32C<23@4323@/:/<2=B63@@35C:/B7=<A1/A6=4                             | <br> |
| /<2A31C@7B73AE7B6/4/7@D/:C3=4                                                               |      |
| (31C@7B73A>C@16/A32C<23@/5@33;3<BAB=@3A3::                                                  | <br> |
| (31C@7B73A0=@@=E32                                                                          | <br> |
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| )@/27<5/AA3BA/B4/7@D/:C37<1:C23AA31C@7B73A>:32532=4                                         | <br> |
| '3137D/0:3A4@=;1CAB=;3@A7<1:C23A4/7@D/:C3=4                                                 | <br> |
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| '3137D/0:3A4@=;/447:7/B3A                                                                   | <br> |
| <B/<570:3/AA3BA<3B=4/11C;C:/B32/;=@B7H/B7=<=4                                               | <br> |
| %B63@/AA3BA                                                                                 | <br> |
| !16\$.\$55(65                                                                               | <br> |
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| ,\$%,.,6,(5\$0'561&-+1.'(4<br>5(37,6;                                                       |      |
| (31C@7B73AA=:2C<23@/5@33;3<BAB=@3>C@16/A3                                                   | <br> |
| (31C@7B73A:=/<32                                                                            | <br> |
| &/G/0:3AB=1CAB=;3@A7<1:C23A4/7@D/:C3=4                                                      | <br> |
| )@/27<5:7/07:7B73A/B4/7@D/:C3                                                               | <br> |
| &/G/0:3AB=0@=93@	23/:3@A/<21:3/@7<5=@5/<7H/B7=<A                                            | <br> |
| &/G/0:3AB=/447:7/B3A                                                                        | <br> |
| /<9:=/<                                                                                     | <br> |
| 11@C323F>3<A3A/<2=B63@:7/07:7B73A                                                           | <br> |
| !16\$..,\$%,.,6,(5                                                                          | <br> |
| =;;7B;3<BA1=<B7<53<173A/<25C/@/<B33A\$=B3                                                   |      |
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| "7/07:7B73AAC0=@27</B32B=1:/7;A=453<3@/:1@327B=@A                                           | <br> |
| (6/@31/>7B/:                                                                                | <br> |
| 227B7=</:>/72	7<1/>7B/:                                                                     | <br> |
| '3B/7<323/@<7<5A                                                                            | <br> |
| !16\$.561&-+1.'(4<br>5(37,6;                                                                | <br> |
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{11}------------------------------------------------

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{12}------------------------------------------------

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{13}------------------------------------------------

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| )@/27<5AA3BA                                              |      |      |          |        |
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| ?C7BG=>B7=<A                                              | <br> | <br> | <br>     |        |
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| )4=@E/@21=<B@/1BA                                         | <br> | <br> | <br><br> |        |
| ,\$%,.,6,(5                                               |      |      |          |        |
| &/G/0:3AB=1CAB=;3@A                                       |      |      |          |        |
| )4=@E/@21=<B@/1BA                                         | <br> | <br> | <br><br> |        |
| )@/27<5:7/07:7B73A                                        |      |      |          |        |
| ?C7BG=>B7=<A                                              | <br> | <br> | <br><br> |        |
| ?C7BGA31C@7B73A                                           | <br> | <br> | <br><br> |        |
| =@>=@/B3230BA31C@7B73A                                    | <br> | <br> | <br><br> |        |
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{14}------------------------------------------------

\$=B3AB=(B/B3;3<B=47</<17/:=<27B7=< *-*  313;03@


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{15}------------------------------------------------

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{16}------------------------------------------------

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{17}------------------------------------------------

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