Allen & Overy – For many years now, the commodity finance market has been in a state of flux. We have seen players retreat and others redouble; certain geographies grow and others flatter to deceive; trading houses become leaner and meaner, with more sophisticated structuring capabilities; technologies emerge with the potential to transform certain aspects of the commodity supply chain; regulatory constraints shape a new normal; the commodity super-cycle reach its bear stage; international trade encounter new risks and adopt new risk mitigation strategies; and so much more.
Amidst this flurry of constant change, a new commodities model has begun to emerge. While market practitioners almost invariably have their ear to the ground with a number of market intelligence sources, there has remained a need for an independent, authoritative report on the condition of the commodity finance market.
This was the driving force behind TXF and Allen & Overy’s launch of a survey that would reach out to market practitioners in a bid to accurately capture the pulse of the industry and provide useful data to its participants. We see this as the first step in a collaborative exercise that will eventually lead to the publication of a more comprehensive, annual report that will be of service to the industry.
We hope you find the information contained herein to be valuable and we look forward to working with you to improve its breadth and quality so that it can serve as an integral part of your annual planning in future years.