OTC Global kicks off 10th anniversary with expansion into Asia Pacific
SINGAPORE: OTC Global Holdings ( OTCGH) yesterday announced the formation of OTC Asia in Singapore.
The new office and expansion into the Asia Pacific region marks a significant milestone for the leading independent commodities interdealer broker, which is celebrating its 10th anniversary in 2017, as it completes the company’s global service model.
Through OTCGH’s Aalpha Energy desk, which serves every major global crude swaps market via offices in Houston, London, New York and now Singapore, clients can speak with a live broker at any time during the global workday.
OTC Asia will replicate its North American and European offerings by broking European and Asian crude swaps, distillate swaps and cracks, and physical fuel broking.
It also plans to leverage the expertise of its Aalpha Energy London counterparts in oil options to best serve clients across the Asian markets.
In time, OTC Asia anticipates expanding into US domestic grade crude swaps business by offering those services in Singapore, joining its Houston counterpart.
“OTC Asia is the last piece of the global puzzle for OTC Global Holdings and the perfect example of the type of innovation we envisioned when launching this company in 2007,” said Joe Kelly, President and COO of OTCGH.
“Thanks to our agile and innovative business model, which has enabled our success over the last decade while our competitors have been sold, folded or floundered, we have been able to continue growing and expanding in spite of a volatile global economy and continued regulatory changes.” OTC Asia’s Aalpha Energy team in Singapore will be the market starters, and work closely with OTCGH’s London office to maintain comprehensive coverage for traders across EMEA and APAC while their colleagues in Houston cover the US The office will be led by Aalpha Energy’s Neil Grierson, a crude swaps broker with more than 6 years experience in OTC commodities broking.
Prior to joining OTC Asia, Neil worked for Freight Investor Services, ICAP and PVM Oil Associates.
“I jumped at the opportunity to work with the founders of OTCGH and establish the Singapore office as it allowed me to colloborate with talented and experienced people in the world of broking,” added Grierson.
“With the recent consolidation in the brokerage space, it is reassuring to work at a firm that has not bowed to purchase offers and instead chooses to continue pushing ahead with its own expansion and development.
Although the Singapore oil swaps market is extremely competitive, I expect we will rapidly strengthen our position thanks to our unique competitive advantage.” — Bernama