SINGAPORE - Deep Source Holdings Limited (HK: 0990) today announced a definitive agreement for the sale of its financial services business operated under BPI Financial Group (“BPI”) to be acquired by Marex Group Limited (‘Marex’ or the ‘Group’; NASDAQ: MRX), a diversified global financial services platform. 

The deal, expected to close by late 2026 or early 2027, is subject to regulatory approvals and will transition BPI’s clearing and execution business from a regional infrastructure into a broader global network. 

The deal will enable BPI’s clients to access a wider range of products and an advanced multi-asset product portfolio through Marex, reinforced by direct access to multiple global exchanges and clearing venues. This complements BPI’s core strengths across commodities, FX, equity index futures, and digital asset derivatives. 

By combining BPI’s specialized Asia-Pacific and inbound-China market access with Marex’s global footprint, this strategic initiative answers growing institutional demand for cross-border clearing efficiency and deeper liquidity in a highly dynamic marketplace.

Kenny Mah, BPI Group CEO, commented: "This transaction accelerates our growth trajectory on a truly global stage. Since our founding, we have built a business centered on trust, innovation and delivering exceptional service to our clients. I am deeply grateful for the unwavering support of our shareholders, the relentless execution of our 70-strong staff across Singapore, Hong Kong, China, Norway, and the UK, and the enduring loyalty of our clients and business partners. This milestone belongs to our entire ecosystem, and our transition to Marex is designed to serve them better." 

Thomas Texier, Group Head of Clearing at Marex, commented: “BPI is a well-established business with an experienced and high-quality team. This deal will drive additional revenues by adding clients and increasing client balances and is also expected to provide material synergies from the internalization of some clearing activities. Importantly, it will also enhance our ability to service clients in Asia with a broader range of services from the Marex platform and provide existing Marex clients with an improved access to Chinese markets.”

About BPI: BPI Financial Group Limited (“BPI”) is a majority-owned subsidiary of Deep Source Holdings Limited, a company listed on the Hong Kong Stock Exchange (HK: 0990). BPI is a boutique financial services group with operations across Singapore, Hong Kong, China and the United Kingdom. BPI provides a comprehensive suite of brokerage, clearing, and execution services across exchange-traded and over-the-counter markets, with particular expertise in commodities, derivatives and risk management solutions.

About Marex: Marex Group Limited (NASDAQ:MRX) provides market access, infrastructure services and essential liquidity to clients across global commodity and financial markets. The Group provides comprehensive breadth and depth of coverage across four services: Clearing, Agency and Execution, Market Making and Hedging and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to more than 60 exchanges. Marex has over 3,400 active clients, including some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers. With more than 50 offices worldwide, the Group has over 3000 employees across Europe, Asia and the Americas. For more information visit www.marex.com.

We are pleased to announce the promotion of Ms Chang Tze Ching to Deputy Group CEO of the BPI Financial Group ("BPI Group"), effective 1st July 2025.

In this expanded leadership role, Tze Ching will work closely with the senior management team in both shaping and implementing corporate strategy for the group – including the Group’s businesses across Singapore, Hong Kong and the UK, with responsibility spanning front, middle, and back-office functions. 

Since joining BPI Group in August 2023 as CEO of the digital assets business, Tze Ching has provided guidance to compliance and risk management functions and has been instrumental in enhancing operational effectiveness and advancing key strategic initiatives.

“Tze Ching brings a wealth of regulatory expertise, industry experience, and strategic vision. Her promotion underscores our confidence in her leadership to drive the Group’s global growth and operational excellence." said Mr Kenny Mah, Group CEO of BPI Group.

Tze Ching is a seasoned professional in regulatory compliance and market development, with over 15 years of experience at the Monetary Authority of Singapore. Prior to joining BPI Group, she served as Chief Regulatory Officer at Asia Pacific Exchange, where she was instrumental in the launch of Singapore’s first regulated Bitcoin Perpetual Futures Contract.

Tze Ching also serves on the Executive Committee of the Digital Assets Association of Singapore and contributes to the broader financial industry as a member of the Institute of Banking and Finance Capital Markets and Financial Advisory Services Examination Industry Panel – Derivatives. 

We are excited to share that we have secured the SGX Top Commodities Clearing Member 2024 award, as well as the Top Coking Coal Interdealer Broker (IDB) and Top M42 Thermal Coal IDB at the SGX Commodities Awards Reception 2025.

These honors highlight our unwavering dedication to providing value to our clients by facilitating a reliable price discovery process, ensuring seamless access to commodity derivatives through both voice and electronic execution, and offering a unified platform for clients to obtain both execution and clearing services. 

We sincerely appreciate the confidence our clients have in us and take pride in being a partner in their continued growth and success. A big shout-out to BPI team for their exceptional efforts once again! 

We extend our special gratitude to the SGX Group and the SGX Commodities Team.

The Singapore International Ferrous Week (SIFW) 2024 stands as a cornerstone event within the ferrous metals and shipping sectors, reflecting Singapore's integral role as a worldwide hub for commodity trading. Held at the iconic Marina Bay Sands Convention Centre, over 1,300 specialists and senior members of the industry from approximately 18 nations attended SIFW, fostering a vibrant exchange of ideas and potential partnerships.

BPI Financial Group (BPI) is honoured to receive the SGX Most Active Commodities Futures Broker of 2023 at the prestigious SGX Commodities Reception and Awards Night, which was held at the side of SIFW. Awarded for two consecutive years, this is only made possible through our clients’ unwavering trust and support over these years.

The SIFW’s forums, including the Singapore Iron Ore Forum co-hosted by SGX Commodities and Fastmarkets, offered expert insights into the iron ore market, discussing challenges and the trajectory towards steel decarbonization—a critical role of steel’s journey to net zero. Furthermore, the Green Steel Forum highlighted the industry’s pivot towards sustainable practices, and global shift to decarbonization.

Active participation in the Singapore Green Steel Forum allowed BPI to share its strategies in navigating the volatile commodity markets. BPI offers a comprehensive suite of products designed to aid clients in effective risk management, and provides unified global market access, including to Chinese markets. As a trading member and clearing member of the Singapore Exchange, BPI ensures secure and compliant transactions, solidifying client trust.

Through its engagement at the SIFW, BPI not only participated in but also led discussions on the future of commodity trading and sustainability. The event underscored BPI’s deep expertise and proactive approach in addressing global commodity market needs.