Manager
DB Group FZCO, Dubai
Total years of experience :15 years, 1 Months
Accountable for hedging of raw sugar purchases for the refinery, which has an annual requirement of 600k MT.
•Maximizing the P&L by de-pricing and re-pricing of raw sugar purchases, depending on market views.
•Prop. Trading in raw sugar and white sugar flat price, raw sugar spreads, white sugar spreads and white premiums.
•Identifying and recommending uncovered/ open positions created by traders for both paper trades and physical trades, and hedging them through derivatives.
•Summarizing all traders’ exposures, positions, P&L and reporting major changes to management.
•Ensuring data consistency/ accuracy, supervising across all systems by coordinating with mid and back office teams.
•Monitoring as well as effectively managing market risk on multiple trading platforms, such as TT, Reuters, STAR.
•Tracking and analyzing the fundamental factors affecting sugar prices like UNICA updates, production, weather, Government tenders and policies.
•Handling all market related risk (hedging price for Sugar) over New York-“The ICE” and LIFFE exchanges.
•Engaging with brokers to carry out derivative transactions for hedging exposure.
•Effectively working with industry and international professionals, monitoring daily market risks and limits.
•Advising and supporting junior traders daily and helping them manage risk with respect to position exposures, mark-to-market, P&L and costs on physical and derivative portfolios
•Updating the senior management about the macro developments and its implications.
Key Contributions:
•Traded more than 1000 lots on a daily basis.
•Positioned the upward price risk for Physical cargoes and realized USD 3.5 million.
•Hedged downward risk post pricing of cargoes until delivery of refined white sugar, Long gamma trades, USD 1.8 million profit in physical hedges.
•Handled and managed the trading of futures and options, OTC’s trade executions for India, Third Party Trades as well as Prop Trading.
•Conducted CoT analysis and formed view as per the funds psychology.
•Trained and handled a team for execution of trades.
•Established the process of tranmission of information between the Finance, Operations and Trading team.
•Calculated VaR and MTM on live market basis (on volatile days), to enable prompt decision-making.
Accountable for Executing/ Hedging Indian and Brazilian Sugar Production, Prop Trading. Indian refinery requirement of 1.5 MMT and Brazilian production of 700k MT annually.
•Training new joinees on systems, products and market dynamics.
•Managing the forex hedging of the foreign subsidaries; on-shore and NDF (Non-Delivered-Forwards) trades.
•Preparing and developing regular and time-sensitive ad-hoc deliverables.
•Advising the senior management on hedging decisions; entry and exit points.
•Executing OTC structures in BRL and USD terms, as per movement of Brazilian Real movement against USD.
•Handling all market related risk (hedging price for Sugar) over New York-“The ICE” and LIFFE exchanges, along with OTC products in Brazilian currency.
•Updating the senior management about the macro developments and its implications.
Analyzed and decided upon the positions to be taken in;
•The Sugar Commodity markets (International and Domestic)
•Forex markets (USD and INR movements)
•Carbon Credits Market
•Designed periodic reports on Power, Sugar & Ethanol, Forex and Carbon Credits Markets, detailing the recent updates internationally for perusal of Managing Director and GM (Corporate Planning).