ABN Amro has started trading commodity futures in Brazil with the opening of its new sugar desk in Sao Paulo.The desk, set up by ABN Amro Futures and ABN Amro's local subsidiary Banco Real, will trade sugar derivatives. It will also provide execution and advice about sugar futures and options for local clients.
ABN Amro's global head of soft commodities, Jean-Michel Boehm, said the bank planned to expand into coffee derivatives "in the near term", with grains and metals to be added later in the year.
The desk will consist of two traders. Leandro de Menezes Martignon has moved from Banco Real, and Roberto Perondi Filho has joined the bank from Brazilian sugar trader Sucden do Brasil, where he was responsible for managing Brazilian futures and options pricing.
More on Energy
Deal brings Australian bank deeper into North American energy markets
Non-cleared derivatives rules pushing utilities towards clearing
RWE’s Judisch talks UK power, renewables and energy market defaults
Group will study impact of Dodd-Frank on energy firms, Giancarlo says
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.