|Key People||Brian Price, CEO|
|Products||An integrated electronic system for OTC interest rate swaps, forward foreign exchange swaps and environmental instruments.|
Mercari is a licensed electronic swaps execution facility.
Based in Sydney Australia, Mercari was established in 2004 to provide an electronic solution for the trading and management of over-the-counter (OTC) contracts including, swaps, foreign exchange forwards, other derivatives and tradeable certificates.
Mercari’s markets operate on a proprietary swaps execution facility technology called Mercari eSEF. Mercari operates both regulated and unregulated electronic OTC markets.
Mercari was founded by three senior Australian OTC market professionals who have a combined experience in international capital markets as both brokers and dealers. Mercari was acquired by the Financial and Energy Exchange (FEX) Group in January of 2008.
Mercari operates numerous types of markets incorporating multiple distribution models and multiple market structures. These include dealer-to-dealer disintermediated, broker intermediated or intermediated/disintermediated hybrid distribution structures; which can be either quote driven or order-driven type markets.
Mercari is also Australia’s first licensed interest rate swaps and forward foreign exchange OTC market operator. These markets operate as an interbank broker whereby Mercari holds both an Australian Market Licence (AML) and Australian Financial Services Licence (AFSL) to operate this market.
Mercari also operates an intermediated electronic OTC market for environmental certificates. Brokers currently connected to the Mercari environmental market include MF Global and NextGeneration (a specialist Australian energy and environmental broker).
Mercari has the stated goal of developing OTC swap execution facilities through increasing accessibility, functionality and reliability thereby maximizing transparency and optimizing our participants’ trading operations and strategies.
Trading through FEX Mercari's systems is fast and efficient. It also provides a credit management system as well as the ability to link to clearing houses. The credit management system allows credit and risk managers to specify and pre-clear credit for trading counterparties.