SSY enters energy derivatives business

SSY enters energy derivatives business

London-based brokers Simpson Spence Young (SSY) is launching a new energy derivatives service through its derivatives business SSY Futures, based in New York, London and Singapore.

Covering the gas and power markets, SSY will be offering its clients the ability to manage their physical energy risk. The company has hired experienced energy broker James Whistler as head of energy derivatives to lead the team from Singapore.

SSY chairman, Mark Richardson, said: “Our goal with derivatives is to expand our freight, iron ore, coking coal and steel services and enter into the fast-growing energy space. LNG in particular is growing fast and becoming a critical part of the energy mix. With energy markets liberalising around the world, SSY is well placed to leverage its position in shipping to offer added-value and know-how to new and existing clients. We look forward to working with James to build out this new offering.”

Whistler was previously director of LNG and crude at BGC Partners.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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