Greater London, England, United Kingdom
A sugar industry professional with over 20 years' experience in trading, broking and analysis. A strong understanding of both the physical and futures markets, underpinned by a sound knowledge of operations/shipping/middle/back office, in addition to well honed analytical skills, allowing for a considered and practical approach to trading and broking of raw and white sugar. Experienced a plethora of different sugar markets over the years, however with customer focus at the forefront of all activities, and a drive to create long-term lasting relationships through honesty, fairness, and integrity. Coupled with a strong desire to pass on and share knowledge picked up over the years with both colleagues and customers alike, as well as industry peers.
Consultant Sugar Trader
Physical sugar brokers - - Established in December 2014, covering all types of sugar (raws, refined, crystals and bagged VHPs) for shipment in both containers and on a conventional shipment basis, as well as covering all the major origins (Brazils, Centrals, EUs, Indians and Thais). - Negotiate FOB (and sometimes CFR) contracts between major sugar trading companies ensuring a fair value is achieved relevant to prevailing cash market values. - Activities incorporate key FOBs and CFR terms, particularly standard terms utilised in origins such as Thailand (TSTC/TCSC), as well as the deliverable terms for the ICE US No11 raws sugar and ICE Europe futures white sugar contracts. - Integrity and a respect for client confidentiality at all times, particularly given the potentially sensitive nature of information entrusted by clients.
- Key part of a small soft commodities team, dealing mainly in sugar, coffee and cocoa derivatives traded on the ICE US and EU exchanges. - Advised clients (hedge funds/market-makers/traders/banks/producers/consumers) on soft commodity supply/demand and trade flow fundamentals. - Exposure to other commodities such as grains and energy. - Used Fidessa and WebICE to execute futures and options trades. - Confident and proficient in using MarketMaker (options valuation program), and Bloomberg for charting purposes.
- A multi-faceted role, with particular responsibility for activities in the European/African time zone. - Reported directly to a Board member and had daily involvement in physical/ futures position management. - Developed strong negotiation skills in buying/ selling raw and white sugar both between producers and destinations and on an inter-trade basis. - An enhanced understanding of both the freight and physical markets and the contractual terms required for physical trades, including integration of relevant No11, white sugar futures contract, RSA and SAOL terms. - Ran a spec account to trade the No11 and white sugar futures contracts. - Responsibility for the Brazilian container book, with autonomy to build physical positions based on a structured market view. - Developed bespoke supply chains for large EU based multi-national industrial consumers from various preferential origins (e.g. from Colombia, Guatemala and El Salvador). - Responsibility for managing relationships and negotiations with Central and South American sugar producers to fit with the global sugar strategy. - Established a variety of “Inward Processing Relief” (IPR) activities within Europe - Management of operations team in London, Brazil and Singapore, to ensure a smooth operation of position. - Daily use of ICE Europe white sugar futures and ICE US Futures No11 contracts to hedge purchases/sales and for use in developing short/medium-term forward hedging strategies. - Representative member on the “Sugar Traders Association of the UK” (STAUK), and subsequent involvement in ASSUC. - Fully conversant with Sugar CP/99, INCOTERMS 2010, and knowledge of UCP600 banking code.
- Worked to develop the principal and container trading books, reporting directly to the head of trading - Global desk trader involved in purchases/ sales on both FOB/CNF basis of bulk raw and bagged white sugar - Developed the Brazilian container book, with autonomy to build physical positions based on a structured market view. - Involved in helping to develop the company’s EU business, and establishing them as a leader in IPR solutions to European industrial clients, as well as developing supply solutions for the EU Chemical Industry. - Gained an extensive understanding of EU sugar regulations, IPR procedures and European documentary requirements. - Provided guidance to various global clients with regard pricing of the physical and futures-related elements of their sugar, as well as assistance to more advanced clients in sales/purchasing strategies by employing various tools to add value.