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In current economic conditions it may seem folly to launch website networks dedicated to financial market practitioners. However, www.placingtraders.com, which goes live today, focuses purely on one of the boom areas of recent years – commodities, whose underlying macro-economic drivers show no sign of waning.
Goldman Sachs warned in early May that oil could reach US$150 - US$200 per barrel, while soft commodities including rice and wheat have reached new highs throughout 2007 and into 2008. Furthermore, in 2007 commodity-focused hedge funds, on average, returned 13.51%*.
Commodities desks at investment banks are busy structuring products and executing trades for industry practitioners and market speculators alike, and seeking people with the necessary expertise to keep them at the forefront of industry innovation.
Placingtraders.com fills a niche in the commodities industry in providing information on vacancies, for breaking news at commodities firms, and matchmaking for consulting and training services for the industry. Networking is the leitmotif of the new site as it aims to bring together a wide range of market participants and analysts, for example through ‘Commodipedia’, a directory carrying information on registrants’ news, events and services.
Placing Traders is the brainchild of Vicki Meddows-Smith, 20 years a broker on the London Metal Exchange with a range of leading firms. Recently, she has focused on trading technology, first with LIFFE working on CONNECT team for migration from open outcry to electronic trading and latterly with trading technology providers (EasyScreen, Univits). Most recently Vicki was a consultant for Commodity Appointments.
