Vitol and TransMarket clinch pact with SMX

Global trading firms Vitol Group (Vitol) and TransMarket Group LLC (TMG) signed up Tuesday as Trade Members of the Singapore Mercantile Exchange (SMX).

Vitol, one of the largest global energy traders, and TMG, one of the world’s leading proprietary trading groups, are among the first Trade Members to recognise the value proposition of becoming members of SMX.

“Vitol and TransMarket Group are amongst our expanding list of Trade Members who will increase the liquidity pool on SMX. Vitol and TMG trade significant volumes everyday on exchanges across the world,” said Thomas J. McMahon, Chief Executive Officer of SMX.

McMahon said the move will enable them to strengthen their customer relationships in the Asian region.

“Both are well established in their respective fields showing diversity in the financial as well as physical market space,” he said.

Functioning primarily as a physical trader, Vitol executes trades over a comprehensive spectrum of energy products. It ships over 300 million tonnes of energy products per year, with revenues of about US$143 billion in 2009. Vitol has obtained Trade Memberships for its global headquarters in Geneva (Vitol SA) and its Asian headquarters in Singapore (Vitol Asia).

TMG, on the other hand, is a global private trading and investment company which provides risk capital and market access to individuals for the purpose of trading the global financial markets. Its offerings to customers include covering exchange listed derivatives, equities, commodities and selected cash markets on a multitude of trading platforms.