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On 3 August 2010 Tradition’s London based Biofuels desk closed the world’s first rapeseed oil swap between TOTSA S.A., based in Geneva, and a continental based fuel distribution company. The deal was for 1,000 metric tonnes for settlement in August 2010. The swap will be settled against the rapeseed oil FOB Dutch Mill Euro/T quote in Argus Biofuels, published by Argus Media.
Kees Schipper, Senior Broker, Biofuels at Tradition comments,
“With the ongoing growth in biodiesel and grain derivatives market, trading of rapeseed oil swaps is a natural progression. Tradition is a full service energy broker and biofuels are the latest product to be added to our range of products covered”
Regina Malzburg – Marketing & Communications, Tradition
Tel: +44 (0)20 7198 5819
Tradition is one of the world’s largest interdealer brokers in over-the-counter financial and commodity related products. Represented in 27 countries, Tradition employs 2,530 people globally. Tradition is the interdealer broking arm of Compagnie Financière Tradition (CFT) and listed on the Swiss stock exchange.
For more information, please visit www.tradition.com.
Tradition Energy is one of the world’s largest energy management and procurement advisors to commercial, industrial and governmental organizations with over 300 energy specialists in 11 offices covering both the wholesale and retail energy markets since 1986. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,500 people in 27 countries around the world and is publically listed on the Swiss stock exchange (CFT).