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Engelhart CTP

Engelhart Commodities Trading Partners (ECTP)
IndustryFinancial services
PredecessorBTG Commodities
Founded2013 (2013) in Brazil
HeadquartersLondon
Area served
Worldwide
Key people
Huw Jenkins (CEO)
Websitewww.ectp.com

Engelhart Commodities Trading Partners (ECTP) or Engelhart CTP is a commodities trading company founded in 2013 by BTG Pactual Group, headquartered in London.[1] It has international coverage and is present in five countries.[2] It was known as BTG commodities and started using the ECTP brand in 2016, after the split with the bank.[3]

History

In 2013, the BTG Pactual Group founded BTG Commodities, offering coverage, credit, and operations services, while limiting its physical commodity holdings. This move was contrary to the trend of major Wall Street banks withdrawing from the commodities market. BTG’s initiative aimed to increase market share left by the reduced presence of other banks and establish a global and diversified physical product trading platform. Thus, BTG Commodities was founded, which would later be renamed Engelhart. Trading began in the commodities market under the leadership of Ricardo Leiman, former president of Noble Group.[4]

The ECTP operates in financial trading, physical commerce, and credit restitution. It does not directly own mines, power plants, farms, warehouses, or vessels.[5] The company experienced rapid growth, generating almost $1bn of net income between 2012 and 2016, reaching a workforce of 825 employees across 18 different countries.[6]

In June 2024, ECTP acquired Trailstone Group, shifting its focus from derivatives trading to physical natural gas and electricity trading in markets globally, including Japan and the US.[7]

References

  1. ^ "ENGELHART CTP HOLDING (UK) LIMITED filing history - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2023-09-26.
  2. ^ "Commodity trader ECTP plans turnaround: Bloomberg". Reuters. 2019-03-11. Retrieved 2023-09-26.
  3. ^ Hume, Neil; Terazono, Emiko; Sheppard, David (2016-10-05). "Engelhart to cut staff by almost a fifth after rapid expansion". Financial Times. Retrieved 2023-09-26.
  4. ^ Hume, Neil (2017-03-22). "Engelhart CEO to step back from day-to-day management". Financial Times. Retrieved 2023-09-26.
  5. ^ Vasey, Dr Gary M. (2019-03-12). "Commodity Trader Plans Turnaround After Losing $500 Million". CTRM Center. Retrieved 2023-09-26.
  6. ^ Hume, Neil (2017-03-31). "Commodity trader Engelhart CTP reorganises in bid for simplicity". Financial Times. Retrieved 2023-09-26.
  7. ^ "After Rough Patch, Trader Engelhart Bets Big on Power and Gas". Bloomberg.com. 2024-07-04. Retrieved 2024-07-22.

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