Earlier this year, Meyerfeld Lewin started participating in the Market on Close assessment process for certain refined oil products
Meyerfeld Lewin, a Premier Trading and Clearing Broker in the Asia Pacific that has trading memberships with major exchanges throughout the world, announced further investments into Asian Expansion.
In addition to providing physical supply services and related structured solutions for counterparties, the company also finances upper and mid-stream commodity assets.
“We want to provide holistic solutions to our customers — such as physical cargoes, infrastructure support, risk management solutions. As banks get out of physical commodities, we think we have the right talent to fill some of that space and functions,” said Mr. Patrick Cheng, Chief Operating Officer.
The expansion into Asia by Meyerfeld Lewin comes at a time when some of the global banks have reduced their exposure to commodities trading, amid growing pressure and scrutiny from regulators. Some banks have cut staffing on commodities desks.
Mr. Cheng said as Meyerfeld Lewin looks for key growth pockets in Asia, it has set its eyes on expanding staff and volumes in India.
“Having people on the ground in India is definitely a part of the plan. We will wait for the right time, but opening a local office in India at some point is a possibility,” he added.
India’s oil demand growth will outpace China’s demand growth in 2016 for the third year in a row. While India’s demand is expected to grow at about 7% to 4.13 million b/d in 2016, China’s oil demand is seen growing by about 3% to 11.5 million b/d.
“India is obviously one of the fastest growing markets and everybody is looking towards India as the next big powerhouse, as China slows down. We have started trading with certain major Indian oil companies already,” Mr. Cheng said.
About Meyerfeld Lewin
Meyerfeld Lewin is a Premier Trading and Clearing Broker in the Asia Pacific Region. Our memberships with major exchanges throughout the world complements our current brokerage capabilities to cater to the diverse trading needs of our clients, regardless of retail, high-net-worth, corporate, institutional, proprietary, hedge funds or high-frequency traders. Meyerfeld Lewin provides trading access for a comprehensive suite of products including Commodities, Futures and Options Bullion, Over-the-counter (OTC) Derivatives and Leveraged Foreign Exchange on all major exchanges in the world. The company also provides professional traders with a trading arcade equipped with state-of-the-art technology, fast, stable and low latency connectivity through leased lines to global exchanges.