Totem looks to expand energy derivatives pricing products

Totem Market Valuations, the London-based derivatives valuation firm, has appointed Tom Charlesworth to expand its pricing services for long-dated oil, gas and power over-the-counter derivatives.

Charlesworth joins from UBS Warbug in Hong Kong, where he was an associate director of energy trading in the commodity risk management group. He has more than eight years' experience of the commodities market, and has traded a wide spectrum of crude oil and energy products on the European and Singapore physical and derivatives markets.

He started life as a trader with the energy and commodities trading firm, Louis Dreyfus Group in Germany, in 1992, and three years later joined the commodity risk management group at UBS in Switzerland as a senior trader. At UBS he contributed to the design and testing of the group’s trading and risk management computer information systems.

“The collapse of Enron has put a new spotlight on derivatives trading and demonstrated that some companies are failing to effectively manage the associated risks. When coupled with the market’s explosive growth, this can only mean a clear demand by senior management for greater risk reporting. The consensus price service run by Totem meets that requirement head on,” said Charlesworth.

In his new role Charlesworth will report to Tim Barker, chief executive of Totem.