HSBC enters energy derivatives market
HSBC and Total Oil Trading expect to offer their first products in a few months' time
HSBC is set to offer energy-specific over-the-counter derivatives products to its clients through a strategic alliance with Total Oil Trading (TOTSA).
Initially the bank will start with crude oil and petroleum-based products and has plans to develop further energy products through the alliance.
According to an HSBC statement, HSBC will focus on deal origination and credit risk management, while TOTSA will focus on oil trading. The venture will be supervised jointly by senior executives from
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