Asia/Pacific News
Derivatives Firm Hires Fuel oil Broker
Freight derivatives firm FIS has bolstered its trading desk in Singapore.
Jarryd Smith has joined the company in Singapore, FIS said in a statement.
Smith brings with him several years worth of experinece as a fuel oil and gasoil swaps broker.
"As the shipping market adjusts not just to the changed oil market but to the underlying shift due to IMO2020, we are seeing more owners look for a practical way to hedge their fuel oil exposure," said FIS Asia director Tom Fox-Hughes.
According to the company, FIS has "a hybrid approach to swaps and futures markets".
This involves live prices available via its FIS Live app with execution managed via its global broking teams. In addition, the app has technical analysis tools and regular news updates, it said.
