Sales Oil

Arezki Kacer

Senior Oil Derivatives Products Trader

PERSONAL SUMMARY

Highly accomplished and results driven Senior Oil Derivatives Product Trader with a proven global expertise in Brent, WTI, Dubai/Oman, Jet Fuel, Marine Fuel Oil, Marine Gasoil, Diesel and others Light and Heavy Refined Oil Derivatives Products portfolio management and hybrid physical/derivatives, a strong track record of building profitable oil trading, marketing, supply and sourcing strategies in volatile oil market conditions and proactively anticipating markets trends, prices and volatilities complemented with excellent skills in “crisis” risk management.

WORK EXPERIENCE

01/2018 to now – Founder/Oil Derivative Trader • SANDLINE ENERGY TRADING ADVISOR, Paris

Structured, devised, and founded an oil trading, physical & derivatives hedging advisory business

Built and manage the Oil desk Platform in charge of Crude Oil & Oil Products Derivatives Trading, Physical Cargo Sales/Purchase and Hedging.

Outright fundamental positioning (crude oil supply/demand analysis) and discretionary trading

Generated trading ideas through a combination of sell side analyst research, order flow, technical indicators and relationships with other traders.

Developed Excel spreadsheets utilized in daily trading programs

Analyzed and evaluated short term moves, owing to momentum, news and market action.

Applied trading strategies and technical analysis to determine entry and exit points

Managed all operations, trading account, investor relations, analyzed profit margins and risks.

Trading physical cargos of crude oil, fuel oil, jet fuel etc. with delivery worldwide

Maintain relationships with brokers, suppliers and traders to evaluate oil markets movements and market prices trends.

Ensuring optimum rates that benefit both the business and the client.

Continually research for opportunities to expand the business, in term of products and clients.

01/2017 to 11/2017 – Co-Partner, Oil Derivative Trader • EFFICIENCY ENERGY MANAGEMENT, Paris

Formulate a business plan to expand from Consulting into Oil Derivatives Trading, Marketing and Analysis establishing a critical mass required for profitability

Responsible for the profit center that traded options and derivative transactions of WTI, Brent, jet fuel, heating / gasoil, RBOB focusing on absolute returns.

Traded with proprietary capital, leveraged up to 15/1 on energy markets

Created of a fair value derivatives/options pricing model for Brent, WTI, Dubai/Oman and refined products crack spread model for various region.

Developed a cross assets strategy to exploit the relationship between correlated and uncorrelated oil / oil products markets and take discretionary trading view on the trends.

Use demo trading to test new option strategies, building the intellectual property to make strong, fundamental strategies for future transactions with total return on portfolio at 19%.

Pitched trade concepts based on client’s cash flows, market support/resistance levels, portfolio duration requirements and potential/realized rating changes

08/2008 to 09/2016 – Director of Oil Derivative Trading, Supply & Sourcing • CMA-CGM S.A, Marseille

Responsible of managing the existing $10 billion Derivatives & Hybrids Physical Oil trading books

Restructuring the Global Energy Derivatives Trading by creating an internal defeasance structure to manage crude oil and others feedstocks derivatives and structured products exposures

Re writing the Derivatives Trading & Risks Management procedures, Business Continuity Plans, Front Office Liquidity & PnL reports and establishing processes for compliant operations.

Adapted and implemented a volatility trading strategies to manage risks to profit from and hedge against oil prices fallout related to the Lehman Bros. crash and Western European sovereign and sought entry/exit strategies for size in crude oil Brent, WTI Asian Prices Options, Bullets Option and regular vanilla American/European Options in OTC and in listed markets.

Actively trading crude oil crack spread volatility and crude oil structured derivatives product such as range swaps k/o, 3 ways k/o, Asian digital options from 1 month to 5 years.

The options volatility strategy identified long/short volatility, volatility skew and volatility term structure trading opportunities within the WTI, Brent, Gasoil/Heating Oil and Fuel Oil.

Travel to meet policymakers and local oil market participants in various oil producer countries

Build relationships with oil traders and researchers to ensure access to top-notch market color

WORK EXPERIENCE-(Page 2)

08/2008 to 09/2016 – Director of Oil Derivative Trading, Supply & Sourcing • CMA-CGM, (following)

Fuel & Gasoil Physical Hybrids Trading, Supply & Sourcing

Generating physical fuel oil and gasoil trading & supply strategies for the 400 vessels of the company operating all over the world (over $4 billion oil products procurement budget per year.)

Responsible for a team of 10 marketers executing and optimizing bunker and gasoil spot DoB.

Ensuring all trader & marketers are complied with regulations and internal trading policy

Trading physical fuel oil and gasoil products with volatility embedded on the Fixed Forward Prices (Asian), FFP including exit agreement, FFP with limits, FFP capped with collar of 150KMT to 200KMT per month and generated $100M P&L

In direct contact with our worldwide agencies 24/7 weekend included to sort out any supply logistics issues (volume, quality) and find a solution to avoid delays and respect clients’ schedule

Negotiator for all oil products and lubricants’ supply contracts with supplier, refineries and traders to receive at the best prices the products with required specification.

Buying storage capacity, additive blending products etc.

Negotiation tenders and contract for a maximum size of $100M/lot per year

09/2006 to 08/2008 - Director of Oil Derivative Trading • WESTLB, Düsseldorf, London, Sydney

Mandated to take the lead to build out a new group focusing on oil trading and sales.

Developed and implement complex oil trading, market-making and sales strategies

Managed crude oil & distillates derivatives desk overseeing traders, marketers and support staff

Accountable for making continuous, 2-sided market in all appointed crude oil and oil products derivatives at all times during the London, New-York and Sydney shift in the OTC markets on ; Brent, WTI and other international grade on demand, Oil Products.

Traded speculative physical and financial Brent (Forties, Oseberg, Ekofisk), North & West African, Atlantic Basin markets, WTI, Canadian Light, LLS, Tapis, Dubai, Ural etc

Traded speculative physical and financial Fuel Oil, Gasoil, Gasoline (RBOB), Naphtha, Jet Fuel, and others Feedstocks with deliveries including US harbors, Singapore, Honk Kong, Dubai, Amsterdam-Rotterdam-Anvers, China s‘ ports, etc..

Freight & Cargo Trading (arbitraging oil curve)

Developed new customer relationships with outside oil marketers to make bids and offers to arbitrate and take advantage of market conditions which increased profit margins

Studied, monitored and informed other traders and managers of market conditions, weather, volume, price, competition, constraints or other dynamics

Developed new innovative trading strategies which increased an additional $1M to the company

Pricing oil structured tailor-made solutions for New-York, London and Sydney‘s clients

Maintained professional relationships with various oil market players.

Redaction of daily market letters analysis and sending indicative pricing curves to the clients

Provided extensive energy products knowledge and training to support salespeople & customers.

Spearheaded bank’s entry into Asian crude oil, refined light oil products and heavy products.

10/2005 to 09/2006 – Head of Oil Derivative Trading • VAN DER MOOLEN & Co, Köln, Zug

Established the Oil Trading, which grew to 5 traders and resulting in profits of $3.5M/year.

Responsible for formulating and implementing the proprietary oil trading strategy with a risk management roadmap to expand into Brent, WTI, Gasoil/Heating Oil markets.

Hedged and managed delta exposure, skew risk, theta, and volatility risk of a $20M on oil option position. The position was, at times, long or short as much as 250k in Vega and consisted of roughly 8 to 10% of NYMEX/ICE open interest.

Managed a short Gamma/Vega hedge book ($30Mx$30M) for Crude Oil, Gasoil, Heating Oil, Gas.

Monitor and act on geopolitical and fundamental news to be profitable over 80% of trading days.

05/2002 to 10/2005 – Senior Energy Derivative Trader • STATKRAFT GmbH, Düsseldorf, Oslo

Built and managed the options prop trading desk within pre-defined risk limits.

Built and managed a power and gas volatility desk (vanilla options and Exotics) with main focus on UK, Continental & Scandinavian markets (also Asset-wise).

Managed pricing and trading for structured products including FX hedging, crude oil, fuel oil, emission (Co2) spread trading and coal.

Mentor and develop junior trading analysts to support the growth of Statkraft’s group.

WORK EXPERIENCE-(Page3)

11/2001 to 05/2002 – Senior Energy Derivative Trader • MIRANT ENERGY, Amsterdam

Steered the integration of Southern Energy Europe’s option books into Mirant Energy Europe.

Co-Head of Trading in charge of UK and Nordpool Power trading activities (derivatives paper and physical) and their integration with Coal and Gas fuel supply;

Restructured the trading business and returned to profitability within 6 months of hire.

Managing the impact of the Enron fall by rebalancing the “Greeks” of the power options books

Managing foreign exchange and interest rate exposures by developing and implementing hedging strategies for the energy portfolios.

06/1990 - 10/2001 – FX & IR Derivative Market-Maker • SOCIĖTĖ GĖNĖRALE C&IB, Paris

Responsible for managing risk and execution of daily short term derivatives positions

Buy and sell variety of STIRD and FX options spreads based on negotiated price discovery as per market supply/demand to provide the best service and liquidity to SG sales and clients.

Explore arbitrage opportunities between floor, electronic trading platform and OTC markets

Manage portfolios associated with multiple options positions in the high stress SG floor trading.

Adjust volatility and volatility skew in the market-making pricing model, everyday using the data available from EBS, Bloomberg and Reuters to get pricing sheets (Delta sheets)

Developed different trading strategies for bear and bull market.

Got exposure to different kind of options trading strategies like butterfly, straddle, strangle, ratio spread, calendar spread and managed risk associated with this in my options portfolio.

Perform research of global economy and monetary policy of central banks.

Market analysis contributions to Bloomberg News and to Reuters.

OTHER PROFESSIONAL EXPERIENCE

02/2018 to now Teacher to Master Student in Energy Trading • IDRAC Business School, (Paris-la-Defense)

Taught subjects for Master's Degree :

The developments and major issues in European oil, power, gas and fuel markets

The international oil and European power and gas market platforms

The drivers and dynamics of oil, power and gas prices

The different instruments that are being traded

Trading and hedging strategies of oil, power and gas derivatives and assets (production/consumption)

Modeling of volume risk (and associated penalties) related to commercial or weather expectations and management of swing options as a hedging instrument.

Credit risk analysis on structured or project financing.

12/2015 to now – Oil Trading Expert for Coleman Research, Raleigh and for Gerson Lehrman, N.Y

I provide expertise, advise and recommendation in oil trading, supply chain, procurement etc. for a top level clients Accenture Tokyo, Macquarie Bank London, Bain & Co London, Farallon Asset Management London etc.

SOFTWARES / TECHNOLOGY PROFICIENCIES

Data Providers ; Reuters, Bloomberg, Endur, Zainet, Allegro, Trayport, ICE and PowerQuote platforms, Excel, Sungard Zai*Net and Endur deal capture systems,Reuters Kobra, Reuters Eikon, Bloomberg, Telerate, Montel Power News, Metastock, CQG, Pira, Platt’s, Argus, ICIS, Heren etc.

Pricings: Fenics, Devon, Murex, KW, Summit, Sungard, Prime, Kiodex, Superderivatives etc.

Trading: EBS, Bloomberg, Barx, Redi+, UBS platform, GNI Pat-Sys, Trayport, ICE, RTS, Orc, Eurex

Office softwares; Microsoft Office 2003 – 2010 (PowerPoint, Excel, Word, Outlook etc.)

AREAS OF EXPERTISE

Global Fuel Oil, Gasoil, Crude Oil Options, Derivatives & Physical Markets Expert

Oil Correlation and Volatility Arbitrage

Asset Optimization

Oil Fund Development

Technical Chart Analysis and Trend Forecasting

Oil Derivatives Valuations and Options Pricing

Extrapolation of Forward and Volatilities Oil Curves

Risk Management, VaR, Stress Test.

Crisis Management

EDUCATION

Master Degree in Finance @ ESC Paris

HND in Marketing and Management @ IECP-IAC

PERSONAL SKILLS

Innovative ideas

Inspiring innovation

PERSONAL DETAILS

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Driving license: Yes

REFERENCES

Available on Request

TRADING LICENSED

IPE-ICE, CME-NYMEX, CME-CBOT, TOCOM, EEX, Shanghai Futures Exchange, Dubai Mercantile Exchange (DME), GLOBEX etc.

MEMBERSHIP

ACI-Forex, EFET, IBIA, Commodity Club Switzerland, Professional Risk Managers International Association (PRMIA)…

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