OTC Global Expands Into Coal, Coal-Derivatives Broking
(Corrects second paragraph of story that originally ran Dec. 3 to show Rellis, Granger and Arcuri will lead new unit.)
OTC Global Holdings LP, a Houston-and New York-based commodities and energy broker, will expand into thermal coal and coal derivatives as it hires new employees.
Greg Rellis, formerly of London Commodity Brokers, has joined OTC Europe, spokesman Clint Woods said in an e-mailed statement today. The new division will also be led by Rupert Granger and Valerio Arcuri, most recently of Schneider Trading, the statement shows.
“Current and expected demand in the coal market make it a prime growth opportunity for us,” President and Chief Operating Officer Joe Kelly said in the statement.
Net imports of thermal coal into China are set to climb for the “foreseeable future,” Goldman Sachs & Partners Australia Pty said this week. OTC Global is a broker for agriculture and energy markets from corn to propane, its website shows.
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