LONDON, 2 April 2024 — Based in both London and Singapore, the new team will be led by Jack Nathan, widely regarded as an industry leader and who joins from FIS to provide Tullett Prebon clients the opportunity to trade across these fast-growing asset classes. Jack will be supported by Po Wei in Singapore who joins from JP Morgan.

Tom Fox-Hughes, Commercial Manager, Energy & Commodities APAC for TP ICAP Group said, “In what is an exceptionally fast-evolving asset class, clients are seeking real expertise to help navigate markets. With demand for electric vehicles (EV) fluctuating, and the production of battery metals rising rapidly, clients have a growing need to manage price risk and exposure. Our new desk, and the experienced hires we have made to lead it, will help us grow liquidity and support customers worldwide as the global energy transition continues to advance.”

At the end of 2023, open interest in cobalt and lithium increased very significantly as EV sales wavered, alongside a surge in production for both metals. This is especially the case for lithium, whose mining production has grown 20-fold in the last 30 years[1]. Less well known, Molybdenum is an emerging battery metal that is predicted to play a key role in increasing batteries’ electrical power, energy storage capacity, recharging speed, and stability[2].
 

                                                                                  ENDS

[1] Lithium, Cobalt Open Interest Soars as Prices Plunge 

[2]  IMOA Blog

About TP ICAP Group plc
Through our people and technology, TP ICAP connects buyers and sellers in global financial, energy, and commodities markets.

We are a world-leading provider of liquidity and data solutions, with a portfolio of businesses that provide broking services, data & analytics, and market intelligence that are trusted by clients globally.
We operate from more than 60 offices across 28 countries, supporting brokers with award-winning technology.
www.tpicap.com

 

Media Contacts:

Tom Gilbert | +44 7741231950 | thomas.gilbert@tpicap.com