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
Disconnect with eastern US prices generates enthusiasm for regional hubs
Powhatan's battle could set precedent for regulation of US energy markets
Buffett's warning on perils of volatility is well justified, argues Kaminski
Energy firms have plenty of options for dealing with contracts facing strain
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.