Couple questions:
1. Does anyone here have access to this survey?
http://www.imercer.com/uploads/Europe/pdfs/energy_flyer_final.pdf
2. I've noticed in that survey and elsewhere that Origination is a separate role from trading. But judging from books like Metal Men or some comments on WSO, I was under the impression that signing long-term offtake or supply deals was part of a trader's role. Or is it typical nowadays for there to be origination/business development guys who sign long-term contracts while it is up to the traders to figure out what optionalities they can draw on to best profit from these deals/assets?
Anyone? monty, blender, EURCHF?
Salut mec,
I think this link might answer some of your questions:
http://www.engineeringbecause.com/news/engineering-europe/69/interview-with-an-originator-beyond-the-trading-desk-at-bp
Excellent, merci !
Really great post. Keep posting such information which helps to know a bit of things in a one thread.
"I've noticed in that survey and elsewhere that Origination is a separate role from trading. " - BULLSHIT
Anyone can flog oil to a refinery / sell copper cathode to a wire factory. Try securing ores from a mine in Katanga, Congo, or signing an offtakle agreement for crude w/ Libyan rebels.
For the past 40 yrs, money has been made in the sourcing, rather than the sales of the commodity. He who controls the source, controls the market. Why do you think integration has been upstream rather than downstream (i.e. Glencore owns 3 lead smelters, but you don't see them buying car battery manufacturers to secure "a market for their lead ingot book").
Brilliant point ~
As my boss says "sales are simply a way of monetizing the efforts made in origination".
That survey is probably aimed mostly at utilities and natty/power traders where origination are the people who build a book of counterparties, and are separate from traders.
Sorry didn't look at link
Origination is separate from trading, not sure why people are claiming otherwise. Trading works with origination, but the two are not identical. Origination may also have its own group of traders as opposed to using other blocks of traders, as its better for clients that sales guys need to pitch the originations to and then execute on behalf of.
I think we work in different fields.
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