History & Timeline

OTC Global Holdings History and Timeline

From our humble beginnings in March 2007, when co-founder of OTC Global Holdings Javier Loya moved from being CEO of Houston-based energy firm Choice Brokerage and then acquired Choice Natural Gas, LP and Choice Power, LP to today, OTC Global has been about growth. Nearly every month for the past decade, there have been additions to the OTC Global team of companies and the global commodities powerhouse continues to thrive and grow. For years, we have been leading the industry in offering actionable and timely market data and brokerage support, and continue to grow our partnerships with data aggregators and independent brokerage firms to this day.

Our advanced trading analytics are now used by large corporations and individual investors in the energy commodity space around the world, and our client list includes some impressive names.

We are continuing to push and grow, rewriting what it means to be an independent institutional broker of commodities, with offices around the world from Chicago, New York, and New Jersey, to London, Geneva, and Singapore. We are now a leading liquidity provider on ICE, CME, and NFX, and serve more than 450 institutional clients.

September 2018
-OTC Global Holdings further enhances EOXLive platform with integration of real-time analytics

August 2018
-OTC Global Holdings’ EOXLive brokers one millionth transaction

July 2018
-OTC Global Holdings launches Freight Forward Curves powered by EOXLive

May 2018
-OTC Global Holdings offers Coal Forward Curves powered by EOXLive

March 2018
-OTC Global Holdings’ Choice! Natural Gas voted top broker in the North American Natural Gas – Henry Hub Category in the Energy Risk magazine annual commodities rankings survey

January 2018
-OTC Global Holdings’ Choice Natural Gas named “Best Broker in Weather Risk Management in North America” by Environmental Finance for second consecutive year

December 2017
-OTC Global Holdings’ Choice Natural Gas brokers first CME Bitcoin Futures Block trade
-OTC Global Holdings celebrates 10th anniversary
-OTC Global Holdings’ Ion Energy Group brokers first Natural Gas Liquids (NGL) Block trade on the Nasdaq Futures Exchange (NFX)

October 2017
-OTC Europe, LLP acquires Oil Brokerage Limited in London

September 2017
-OTC Global Holdings hosts the company’s first Charity Day, benefitting Hurricane Harvey relief

August 2017
-OTC Global Holdings’ ION Energy Group rang the Nasdaq Closing Bell

May 2017
-OTC Global Holdings recognized as 2017 “Broker of the Year” by EnergyRisk for a second straight year

February 2017
-OTC Global Holdings’ Joe Kelly named Co-CEO

January 2017
-OTC Global Holdings forms OTC Asia in Singapore

December 2016
-OTC Global Holdings’ Choice Natural Gas named “Best Broker in Weather Risk Management in North America” by Environmental Finance

September 2016
-OTC Global Holdings launches upgraded EOXLive Active Markets platform

May 2016
-OTC GLOBAL HOLDINGS recognized as 2016 “Broker of the Year” by EnergyRisk
-OTC GLOBAL HOLDINGS’ Aalpha Energy forms crude oil options desk in London

April 2016
-OTC GLOBAL HOLDINGS voted top broker in four Energy Risk Rankings categories
-OTC GLOBAL HOLDINGS’ P&P Oil forms middle distillate desk in London
-OTC GLOBAL HOLDINGS’ ION Energy Group brokers first screen trade on EOXLive

September 2015
-OTC GLOBAL HOLDINGS’ EOXLive Markets now allows users to trade on the EOXLive screen without picking up a phone
-OTC GLOBAL HOLDINGS’ Releases live NYMEX Henry Hub volatility surface on the Bloomberg Professional service

March 2015
-OTC GLOBAL HOLDINGS’ EOXLive Markets to be available on Trading Technologies’ new TT Platform

February 2015
-OTC GLOBAL HOLDINGS launches EOXLive Markets

November 2014
-OTC GLOBAL HOLDINGS’ Aalpha Energy expands into U.S.

August 2014
-OTC GLOBAL HOLDINGS Releases Crude Oil Forward Curves

April 2014
-OTC GLOBAL HOLDINGS Launches Refined Products Forward Curves

February 2014
-OTC EUROPE, LLP Forms AALPHA ENERGY

October 2013
-OTC GLOBAL HOLDINGS Launches Natural Gas Liquids Forward Curves

February 2013
– OTC GLOBAL HOLDINGS Launches Natural Gas and Power Forward Curves
– OTC GLOBAL HOLDINGS Launches Power Implied Volatilities and Natural Gas Implied Volatilities products

November 2012
 FUTURES INTERNATIONAL Bolsters Staff with Addition of Senior Commodity Analyst Terry Reilly

September 2012
– EOXLive Announces Partnership With TheStreet

July 2012
– OTC Europe launches freight derivatives desk
– Interactive Data launches FutureSource Workstation Version 3.4 which includes EOX Holdings content

March 2012
– GlobalView adds EOX Holdings’ over-the-counter forward curves

February 2012
– EOX Holdings and Updata combine over-the-counter forward curves and advanced trading analytics

November 2011
– OTCGH joins CME ConfirmHub for Energy straight-through-processing

October 2011
– OTCGH collaborates with CME Group to deliver the industry’s first on-demand over-the-counter market data

September 2011
– OTCGH hires Suresh Dongre as Chief Information Officer

July 2011
– OTCGH’s video honored at 32nd Annual Telly Awards with a bronze award in the recruitment category

June 2011
– EOX Holdings Launches End-of-Day Forward Curve Products

May 2011
– OTCGH forms Equus Energy Group LLC in Louisville

May 2011
– OTC Global Holdings Named 2011 “Broker of the Year” by Energy Risk

March 2011
– CHOICE Power, a division of OTCGH, forms Northeast Power Brokerage Desk in Houston and New York

December 2010
– OTC Europe, LLP in London expands into coal and coal derivatives broking

November 2010
– OTCGH Joins ICE eConfirm Broker Matching Service

August 2010
– OTCGH forms OTC Europe, LLP in London with two new divisions (Ion Energy and P&P Oil)

July 2010
– EOX Holdings Unveils OTC Energy Market Data Offering

June 2010
– Javier Loya named Ernst & Young Entrepreneur of the Year® 2010 Award Winner in Houston and Gulf Coast Area

January 2010
– Choice Environmental LLC Brokers First CME-Cleared Snowfall Trade

June 2009
– OTCGH acquires stake in Futures International LLC in Chicago
– OTCGH brokers first non-energy commodity

May 2009
– OTCGH forms Edge Energy LLC in Sugar Land
– EOXLive adds OTC energy industry’s first wholesale electronic fixed price swap and
swap spread markets in natural gas

March 2009
– OTCGH forms Riviera Commodities LLC in New York

February 2009
– OTC Global Holdings named a “2008 Deal of the Year” by Energy Risk Magazine

November 2008
– OTCGH forms ION Energy Group in New York
– OTCGH forms Pinnacle Derivatives Group LLC in Jersey City

October 2008
– OTCGH forms Paradigm Brokers LLC in Louisville

September 2008
– OTCGH named to the Houston Business Journal’s Fast 100 list

August 2008
– OTCGH forms Choice Environmental LLC in Houston

July 2008
– OTCGH forms Valence Energy LLC in New York

October 2007
– OTCGH forms EOX Holdings LLC in New York and introduces EOXLive interactive, web-based trading platform
– OTCGH brokers first crude and crude commodity products

August 2007
– OTCGH acquires Power Merchants Group LLC in New York

July 2007
– OTCGH acquires Elite Brokers LLC in Houston

June 2007
– OTCGH acquires Black Barrel Energy LP in Houston

May 2007
– OTCGH forms PVO Energy LP in New York

March 2007
– OTC Global Holdings LP (OTCGH) formed in Houston by Javier Loya, then CEO of Houston-based
energy brokerage firm Choice Energy
– OTCGH acquires Choice Natural Gas, LP in Houston
– OTCGH acquires Choice Power LP in Houston

Press and Media

OTC GLOBAL HOLDINGS’ CHOICE! POWER ADDS ENERGY VETERAN THOMAS BLAKESLEE

NEW YORK (May 21, 2019) – Choice! Power, a subsidiary of leading independent interdealer broker in over-the-counter commodities OTC Global Holdings (OTCGH), today announced the addition of Thomas Blakeslee. The 25-year energy veteran joins OTCGH’s power and gas futures/options brokering and will work in New York.

“While this industry is changing at an increasingly rapid pace today, OTC Global Holdings’ commitment to investing in the best people and equipping them with the necessary technology and resources is unwavering. Adding new talent like Thomas to our already tremendous teams ensures we continue to innovate on our customers’ behalf and further fuels our already rapid growth,” said Javier Loya, Chairman and Co-CEO of OTCGH.

Blakeslee brings two plus decades of experience in trading oil, power and gas to Choice. He most recently was Sales Manager at Nasdaq, where he oversaw the sales effort for power and gas trading, driving new competition to the energy futures industry. Previously, he worked for a prominent utility and bank overseeing the Midwest trading desk in both physical and financial power as well as the entire Eastern Grid for two different funds. Blakeslee is a graduate from Columbia University with a BA degree. 

For more information about Choice! Power and OTC Global Holdings please visit www.otcgh.com.

About Choice! Power

Founded in 2011, Choice Power is a leading broker of electricity futures and options in the US.

About OTC Global Holdings

Formed in 2007, OTC Global Holdings has become the world’s largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Des Moines, Geneva, Houston, London, Louisville, New Jersey, New York and Singapore. The company is a leading liquidity provider on CBOT, ICE, NYMEX and NFX, ranking number one amongst its peers in numerous derivatives contracts across biofuels, emissions, commodity index products, crude oil, natural gas, natural gas liquids (NGLs), metals, petrochemicals and refined products, power, proppants, soft commodities, and weather derivatives. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia, Europe and the Americas. To learn more about the company, please visit www.otcgh.com or go to https://player.vimeo.com/video/146686709.    

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Contact:
Amy Lach
Pierpont Communications
(713) 627-2223
alach@piercom.com

Broker of the year: OTC Global Holdings

https://www.risk.net/commodities/6605341/broker-of-the-year-otc-global-holdings

OTC Global Holdings (OTCGH) had a stand-out year in 2018, growing its oil business by 40%, hitting the one-millionth trade on its EOXLive electronic platform and adding forward curves for freight and coal to its data product set. Already the largest independent commodity broker by volumes, its recent expansions diversify the business as well as providing a service to clients, says London-based chief executive Joe Kelly.

“The beauty of what we have done is continue to expand our offerings and services so that the company is highly diversified, which will protect us from slowdowns in certain markets, and create a one-stop-shop for clients,” says Kelly.

One of the biggest successes of last year was the brokerage’s growth of its oil business. This came as the firm continued to integrate UK-based Oil Brokerage into its portfolio after purchasing it in 2017. The acquisition also increased OTCGH’s geographic reach, particularly into Asia where the firm has a light-end refined products business.

“There are different areas where we continue to expand and one of the largest is oil,” says Kelly. “This year a big part of our work was simply integrating [Oil Brokerage] into OTCGH, alongside the rest of our brands. The end result was a phenomenal success. We have been able to grow volumes in that part of the business by 40% in one year, and I’ll take that every day.”

OTCGH, which is co-headquartered in New York and Houston, started life in 2007 in the USnatural gas options market. It has grown over the years into a collection of nearly 20 independent brokerages in nine different locations: Chicago, Des Moines, Geneva, Houston, London, Louisville, New Jersey, New York and Singapore.

In addition to the evolution of its product offering and locations, OTCGH continued to strengthen its position in its original home, the natural gas market, brokering 37.25% of the US block market for natural gas options in June 2018, according to the firm. This included taking a market-leading 42% share of the Nasdaq Future Exchange’s total monthly natural gas options block volume in June.

This year a big part of our work was simply integrating [Oil Brokerage] into OTCGH, alongside the rest of our brands. The end result was a phenomenal success. We have been able to grow volumes in that part of the business by 40% in one year, and I’ll take that every day

Joe Kelly, OTC Global Holdings

The month was notable as it was the first time Nasdaq had the highest monthly block volumes for natural gas options of any US energy exchange, with a market share of 42% – ahead of CME Group with 36% and Intercontinental Exchange (Ice) with 23%.

Meanwhile, in March last year, 94% of Ice’s natural gas option block volumes were executed on EOXLive and 51% of CME’s. And while total volumes traded were lower that month than during their November and December peak, Kelly believes, this demonstrates the firm’s constant presence in the natural gas hedging markets.

“We are always performing at the top of the natural gas market, with a 30%-plus share of any given month of volumes traded in natural gas options. Obviously, market share is hard to get a grip on when activity is tight. But it’s important nonetheless, and when the market is trading in big volumes this really counts. We are consistently at the top of that too.”

OTCGH did not just make strides in the major oil and gas markets in 2018. It also sought to diversify further by launching coal and freight forward curves. These add to a product suite that also includes end-of-day forward curve reports for crude oil and refined products, natural gas basis and power forwards, natural gas implied volatilities, basis options and markets data.

According to Kelly, it is vital to continuously expand the company’ coal and freight product set in response to client demand, even if these markets are relatively niche compared with the oil and natural gas markets.

“A lot of clients are looking at both freight and coal and, as a commodities broker, you want to cover everything. Some of our products are more bespoke and illiquid and trade only a fraction of, for example, a Brent marker. But you are still going to have certain pockets of your clients that look at those sectors, so it’s good to be able to provide them with hedging tools like this.”

The commodities broking sector has seen a wave of consolidation in recent years, but Kelly is adamant that OTCGH has a much greater value proposition to clients by staying independent and has no plans to change the company’s status.

“I like being nimble, being able to make decisions quickly and being able to be aggressive when I want be,” says Kelly. “That’s the same philosophy we offer to all our different companies. They are very entrepreneurial [and don’t want] a large bureaucracy with layers of management to deal with.”

OTC GLOBAL HOLDINGS NAMED “BROKER OF THE YEAR”

BY ENERGY RISK MAGAZINE FOR FOURTH TIME IN NINE YEARS

HOUSTON –(May 15, 2019) – OTC Global Holdings (OTCGH), the world’s largest independent commodity interdealer broker, has been named 2019 “Broker of the Year” by Energy Risk, an internationally recognized publication in the global trade and risk management industry. The honor was announced at the Energy Risk awards gala in Houston on May 14 and this is the fourth time in nine years the firm has received the recognition.

“We are honored to receive this prestigious award once again, as it underscores the tremendous success OTCGH has enjoyed on behalf of our clients during the last year,” said Javier Loya, Chairman and Co-CEO of OTCGH. “While we are the largest independent commodities IDB in the world, we also operate in a rapidly transforming industry and know that recognitions like this would not be possible without the trust of our many clients or the hard work of our brokers across the globe.”

OTCGH earned this year’s recognition as a result of another year of outstanding performance and accomplishments, which included the one million transactions on its proprietary EOXLive platform; the launch of new data products such as a Coal Forward Curves and Freight Forward Curves; and the integration of real-time analytics into the EOXLive platform to facilitate transactions, provide more market intelligence tools, and make trading more efficient for users.

The award is a significant achievement for OTCGH and is reflective of the company’s continuing growth and success since its establishment in 2007.

“We have continued to grow our market share and stake in the industry year over year, and last year we were able to cement our global business model following the late 2017 acquisition of Oil Brokerage Limited,” added President and Co-CEO Joe Kelly. “While this honor is reflective of our many significant achievements over the past year, I also believe it’s indicative of the great things still ahead of us as a company.”

About OTC Global Holdings

Formed in 2007, OTC Global Holdings has become the world’s largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Des Moines, Geneva, Houston, London, Louisville, New Jersey, New York and Singapore. The company is a leading liquidity provider on CBOT, ICE, NYMEX and NFX, ranking number one amongst its peers in numerous derivatives contracts across biofuels, emissions, commodity index products, crude oil, natural gas, natural gas liquids (NGLs), metals, petrochemicals and refined products, power, proppants, soft commodities, and weather derivatives. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia, Europe and the Americas. To learn more about the company, please visit www.otcgh.com or go to https://player.vimeo.com/video/146686709.

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Contact:
Amy Lach
Pierpont Communications
(713) 627-2223
alach@piercom.com

Brexit Weighs on Oil and Gas Firms

The eyes of the world are on the UK Parliament, where members of the House of Commons on Friday again defeated a plan outlining terms for the UK to withdraw from the European Union (EU).

Nearly 52 percent of the UK electorate participating in the June 23, 2016, Brexit referendumvoted in favor of leaving the EU. UK Prime Minister Theresa May announced the following October that Brexit would occur on March 29, 2019. Since then, EU officials and May’s government have held negotiations seeking to strike a deal to facilitate an orderly exit.

With Friday’s 344-286 vote, the House of Commons has now on three occasions rejected Brexit deals advanced by May. Following a request by the prime minister to delay Brexit, the EU had said that it would grant an extension to May 22, 2019, if the UK Parliament approved the withdrawal deal. May had stated that she would leave office if Parliament approves the deal. The Brexit deadline is April 12, 2019.

MPs are expected to consider alternative options next week. 

A “soft Brexit” would occur with a deal. A “hard Brexit,” also referred to as “crashing out” of Brexit, would take place without a deal. In either case, the UK would leave the EU; however, the soft Brexit would allow the UK to remain in a customs union with the EU. A hard Brexit would translate into the UK leaving the EU single market as well as the customs union.

Following Friday’s vote, the European Commission observed that a “’no-deal’ scenario” on April 12 will likely be the case but added that the EU has been preparing for it since December 2017.

“The EU will remain united,” the commission commented in a written statement. “The benefits of the Withdrawal Agreement, including a transition period, will in no circumstances be replicated in a ‘no-deal’ scenario. Sectoral mini-deals are not an option.”

The UK oil and gas industry continues to monitor Brexit developments with keen interest, and a spokesman for one of the country’s top industry trade groups told Rigzone Thursday what his organization is looking for amid the ongoing progress.

“The certainty and stability of a deal outcome is in the interests of our industry to help safeguard the value and potential of the UK’s offshore oil and gas industry,” Gareth Wynn, Oil and Gas UK’s stakeholder and communications director, told Rigzone. “We will continue to work with all parties and governments to ensure they understand what our sector needs and to encourage a constructive approach to securing a deal which achieves the priorities identified by industry and can command the necessary political support.”

Wynn pointed out that his organization’s priorities include:

  • Protecting the offshore industry from future EU regulatory changes
  • Minimal friction between the UK and EU
  • Maintaining a strong voice in Europe
  • Protecting energy trading and the internal energy market
  • Protecting the industry’s license to operate.

Oil and Gas UK elaborates on each of the above points in a Jan. 21, 2019, posting on its website.

David Aron, managing director of London-based Petroleum Development Consultants (PDO), told Rigzone that his firm’s general views on Brexit concur with Oil and Gas UK’s position. Aron’s oil and gas consulting firm performs integrated subsurface, engineering and commercial studies for upstream and downstream clients, and he observed that Brexit-related uncertainty surrounding the Pound sterling has created challenges in terms of competing for projects outside the UK.

“Most of our work is carried out internationally and the current level of sterling currency uncertainty makes bidding for such projects more difficult,” Aron noted. “Having said that, though, we had a very large dollar-based contract at the time of the first Brexit vote in 2016 and its value went up by 20 percent reflecting the drop of the pound’s value against the U.S. dollar.”

According to this Feb. 14, 2019, Rigzone article, UK-based Tullow Oil plc has stated that its board is concerned about the effect a hard Brexit would have on the company’s staff members who are EU nationals.

In a conversation with Rigzone Thursday, Campbell Faulkner, Houston-based senior vice president and chief data analyst with the independent interdealer broker OTC Global Holdings, observed that a hard Brexit could adversely affect the flow of cross-border talent for the North Sea oil and gas sector.

Faulkner also speculated that a no-deal Brexit could effect a major change in cross-border energy commodity trading. He said it could put “a big damp blanket on the London model of international finance” and lead to “more robust involvement of Swiss firms.”