New York – (May 4, 2015) – OTC Global Holdings (OTCGH), the leading independent commodities interdealer broker, announced the formation of Elite Metals.
The new desk, based out of New York and part of OTCGH subsidiary company Elite Brokers, will concentrate on broking over the counter options and futures on precious metals. It will operate as a boutique options brokerage serving hedge funds, investment banks, commodity trading houses and corporations.
“I’m incredibly excited to have joined OTC Global Holdings,” said Mike Rodgers, head of Elite Metals. “The corporate culture here is refreshing and management’s commitment to excellence is unwavering, despite challenging commodity market conditions, regulatory uncertainty and continued pressure on our clients. We have heaps of hard work to do, but with a flexible operating model and my colleague Paul Westney as the brains of this operation I’m sure we can accomplish tremendous things for this company.”
Originally from Northern Ireland, Rodgers is a former barrister and equity derivatives broker. In late 2011, he moved into commodities, which allowed him the opportunity to start broking precious metals. Joining him on the desk is Westney, who will assist in the development of a precious metals brokerage presence. Prior to joining OTC Global Holdings, he was a commodities trader with Merrill Lynch Commodities, Inc., and a hedge fund in New York.
“There has been an industry wide drive towards transparency and cleared products, and we believe this will only grow in the years ahead,” said Joe Kelly, president and COO, OTCGH. “I look forward to seeing how Mike and Paul and their team collaborate with our other brokerages in New York and across the globe.”
About OTC Global Holdings LP
Formed in 2007, OTC Global Holdings has become the world’s largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Geneva, Houston, New Jersey, London, Louisville and New York. The company is a leading liquidity provider on CBOT, ICE and NYMEX, ranking number one amongst its peers in numerous derivatives contracts across biofuels, emissions, commodity index products, crude oil, natural gas, natural gas liquids (NGLs), metals, petrochemicals and refined products, power, proppants, soft commodities, and weather derivatives. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia, Europe and the Americas. To learn more about the company, please visit www.otcgh.com or go tohttps://www.youtube.com/watch?v=u5Ohwr7h3tE.
Contact: Brittney Garneau
Pierpont Communications
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