First OTC Trade in South American Soybeans
Monday, November 11, 2019
First OTC Trade in South American Soybeans
SCB Group, the world-leading, low carbon commodity brokerage, is pleased to announce that its pioneering financially settled Over The Counter (OTC) swap contracts for Brazilian soybeans exports have now been exchanged. This was the first such derivative trade in South American soybeans.
SCB facilitated two 5,000 mt trades between Export Trading Group, the Dubai-based agricultural conglomerate (buyer), and Olam, the Singapore headquartered agri-business (seller). The first of these transactions was traded in June, and the second in late October. Kevin McGeeney, CEO of SCB, commented:
“We are delighted to have been part of the first two financially settled OTC swap contracts in Brazilian soybeans. These innovative trades were unique for the South American export market. We see a significant opportunity for soybean producers to use OTC swap contracts to more efficiently manage their exposures and market risk in the world’s largest soybean exporting region.” For further information, please contact:
Pauline Tainton, Marketing Officer, SCB
+ 41 22 365 5310
Camarco, Financial PR
Billy Clegg, Jennifer Renwick, Monique Perks +44 20 3757 4995
Notes to Editors:
SCB Group is a world-leading commodity brokerage with a mission to promote the adoption of a low carbon future. Its method is to assist buyers and sellers close trades in environmental products. In this context, SCB has over the last 13 years arranged transactions that have abated 300 million MT of CO2 through activities in Europe, Asia, Africa, and the Americas.
SCB operates in high growth markets and for over ten years has been the world’s largest biofuel broker, holding leading positions in physical and derivative markets including Biodiesel; Ethanol; Waste; Methanol; Carbon; Agriculture; Battery materials; LNG and Energy Derivatives. SCB is the market leader in its core markets.
SCB has a stable, diverse, aligned management team and strong Board, has a positive, progressive business culture and is profitable, with positive cash flow. SCB is a high growth business delivering 15% CAGR over the last ten years with a clear future growth strategy. By 2024 SCB aims to have doubled the size of its business - revenue, staff numbers and CO2 impact.
CNBC interview with Kevin McGeeney - discussing the growing market in sustainable battery materials
Thursday, October 31, 2019
The CEO of SCB - Kevin McGeeney talks on CNBC about the developing market for battery materials.
Our mission at SCB is to promote the adoption of a low carbon future. Electric Vehicles have a significant role to play in the decarbonisation of road transport.
The increasing uptake of EVs in tandem with continuously improving EV battery efficiency and economy will result in substantial carbon emission reduction.
Always working to promote sustainable materials and business practice, SCB’s role as a broker is to bring price transparency and liquidity.
Many thanks to @GeoffCutmore and @steve_sedgwick - Anchors @CNBC.
SCB BROKERS AS NEW RIB TIER 2 MEMBER ON LME
Friday, August 09, 2019
August 8th, 2019 marked an important step for SCB Brokers as they became a TIER 2 Registered Intermediating Broker (RIB) Member on the London Metal Exchange.
SCB has a proven record in developing new illiquid and opaque markets. Through this membership, SCB will be able to help develop, build liquidity and arrange trades in LME’s newly launched contracts including ferrous, LME precious, trade options, aluminium premiums, alumina, molybdenum and cobalt cash-settled contracts.
“We are very proud and excited to have finally become a member of LME RIB and of a wider metal’s community. This is a major step for us in growing our coverage in commodities overall and more specifically in products which help to reduce carbon emissions globally. We look forward to developing new futures and options contracts in EV battery materials together with LME and the trading community by bringing liquidity and transparency into a variety of metal and chemical markets” - commented Natalia Beales, Business Development Project Coordinator in MGR Components.
The London Metal Exchange, established in 1877, is the world centre for the trading of industrial metals. Through LME, producers and consumers of metal have the ability to hedge against the risk of increasing and decreasing world metal prices. RIB Brokers are execution only brokers, who can broker trades for clients and members on an anonymous basis and block trades on LMESmart.
For more information about the London Metal Exchange RIB Tier 2 membership, please visit: https://www.lme.com/About