Industry | Financial services |
---|---|
Predecessor | BTG Commodities |
Founded | 2013Brazil | in
Headquarters | London |
Area served | Worldwide |
Key people | Huw Jenkins (CEO) |
Website | www |
Engelhart Commodities Trading Partners (ECTP) or Engelhart CTP is a commodities trading company founded in 2013 by BTG Pactual Group, headquartered in London. [1] It has international coverage and is present in five countries. [2] It was known as BTG commodities and started using the ECTP brand in 2016, after the split with the bank. [3]
In 2013, the BTG Pactual Group founded BTG Commodities, offering coverage, credit, and operations services, while limiting its physical commodity holdings. This move was contrary to the trend of major Wall Street banks withdrawing from the commodities market. BTG’s initiative aimed to increase market share left by the reduced presence of other banks and establish a global and diversified physical product trading platform. Thus, BTG Commodities was founded, which would later be renamed Engelhart. Trading began in the commodities market under the leadership of Ricardo Leiman, former president of Noble Group. [4]
The ECTP operates in financial trading, physical commerce, and credit restitution. It does not directly own mines, power plants, farms, warehouses, or vessels. [5] The company experienced rapid growth, generating almost $1bn of net income between 2012 and 2016, reaching a workforce of 825 employees across 18 different countries. [6]
In June 2024, ECTP acquired Trailstone Group, shifting its focus from derivatives trading to physical natural gas and electricity trading in markets globally, including Japan and the US. [7]
Proprietary trading occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm's own money to make a profit for itself. Proprietary trading can create potential conflicts of interest such as insider trading and front running.
Louis Dreyfus Company B.V. (LDC) is a French merchant firm that is involved in agriculture, food processing, international shipping, and finance. The company owns and manages hedge funds, ocean vessels, develops and operates telecommunications infrastructures, and it is also involved in real estate development, management and ownership. Along with Archer Daniels Midland, Bunge, and Cargill, Louis Dreyfus is one of the four "ABCD" companies that dominate world agricultural commodity trading.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
Huw Jenkins is vice chairman of the board of BTG Pactual, based in London. He is a managing partner of the firm as well as a member of the Global Management Committee. Jenkins is also chairman of Engelhart Commodities Trading Partners (ECTP), formerly known as BTG Pactual Commodities, which was spun out of BTG Pactual in 2016.
Trafigura Group Pte. Ltd. is a multinational commodities company domiciled in Singapore with major regional hubs in Geneva, Houston, Montevideo and Mumbai, founded in 1993. The company trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or purchased stakes in pipelines, mines, smelters, ports and storage terminals.
Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it was the world's largest commodity trader. In 2023, the company was ranked 59th in the Forbes Global 2000.
Macquarie Group Limited is an Australian multinational investment banking and financial services group headquartered in Sydney and listed in Australia on the ASX. Macquarie's investment banking division is Australia's top-ranked mergers and acquisitions adviser with more than A$871 billion in assets under management and is the world's largest infrastructure asset manager.
Mercuria Energy Group Ltd. is a Cypriot-domiciled Swiss multinational commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas, power, biodiesel, base metals and agricultural products. The company is one of the world's five largest independent energy traders and asset operators and is based in Geneva, Switzerland, with 37 additional offices worldwide. The group operates in 50 different countries.
Gunvor Group Ltd is a multinational energy commodities trading company registered in Cyprus, with its main trading office in Geneva, Switzerland. Gunvor also has trading offices in Singapore, Houston, Stamford, London, Calgary, and Dubai, with a network of representative offices around the globe. The company operates in the trade, transport, storage and optimization of petroleum and other energy products, as well as having investments in oil terminal and port facilities. Its operations consist of securing crude oil and petroleum products upstream and delivering it to market via pipelines and tankers. Gunvor has a separate company, Nyera, set up in 2021 to invest in renewable energy sources. It is run by energy transition director Fredrik Tornqvist.
Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics, and distribution are at the core of its business, these are notably complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has over 40 offices worldwide, with its largest operations in Geneva, Houston, London, and Singapore.
EFG International is a global private banking group offering private banking and asset management services, headquartered in Zurich. EFG International's group of private banking businesses operates in around 40 locations worldwide, with more than 3,025 employees.
BSI had been the oldest bank in the Swiss canton of Ticino until its integration into EFG Bank and the following renaming into EFG, which took place in 2017. Founded in 1873 in Lugano as the Banca della Svizzera Italiana, BSI was an institution that specialises in asset management and related services for private and institutional clients. In 1998, the bank became part of the Italian Generali group, one of the world's biggest insurance companies. In July 2014, Generali sold BSI to BTG Pactual for US$1.7 billion, a deal that CEO of the bank, André Esteves stated would make BTG Pactual a “global player in the asset management arena.”
Marex is a UK-based financial services company. The company's clients are predominantly commodity producers and consumers, banks, hedge funds, asset managers, broking houses, commodity trading advisors and professional traders. Marex currently has over 1,800 employees and 36 offices across Europe, USA and APAC.
BTG Pactual is a Brazilian financial company that operates in the markets of investment banking, wealth management, asset management, corporate lending and sales and trading. It offers advisory services in mergers and acquisitions, wealth planning, loans and financings, as well as investment solutions and market analyses. It is the sixth largest banking institution in Brazil, the eleventh largest in Latin America, and the largest investment bank in Latin America and the Caribbean.
Banco Pan, is a Brazilian midsize commercial bank headquartered in São Paulo. The bank primarily focuses on granting consumer loans to individuals in lower to medium income brackets. Its services include consumer loans, payroll deduction loans, credit cards branded as Visa or MasterCard, insurance products, leasing, and group financial activities.
Pedro Moura Costa is an entrepreneur involved in environmental finance with a focus on the international efforts for greenhouse gas (GHG) emission reductions. Of particular relevance, he was the founder and President of EcoSecurities Group Plc., one of the leading project developers for the international carbon markets, and has written widely about the policy and science of climate change mitigation, including contributions to the Intergovernmental Panel on Climate Change (IPCC) reports.
Pierre Andurand is a French businessman and hedge fund manager. His funds have approximately $2bn in assets under management and have produced cumulative returns of between 900 to 1,300% for investors since 2008. He is also the majority shareholder of the international kickboxing league Glory.
André Santos Esteves is a Brazilian billionaire businessman. Among Brazilian billionaires, Esteves is ranked sixth with a net worth of US$5.4 billion, according to Forbes, as of July 2024. He is senior partner and chairman at BTG Pactual, the biggest investment bank in Latin America. As a philanthropist he is a board member of Conservation International, Inteli and Council on Foreign Relations.