Commodities trading is dominated primarily by private trading companies located in Switzerland and Singapore. The biggest player is Glencore, which made about $2.7 billion last year. Trafigura was a suspected #2 but no public information was available until a couple days ago when they tapped the markets in a bond deal, and revealed they had made about $1 billion last year.
Together these two companies have significant influence in commodities trading markets. They also have something in common - they both trace their lineage to famous Clinton pardonee Marc Rich. Glencore was formerly Marc Rich & Co and was created in a management buy out when Rich cashed in his equity. Trafigura was formed by three senior traders at Marc Rich & Co.
Few pardons have done so much for the global economy.
I love the smell of monopoly in the morning.
Read about the guy on wikipedia. Awesome stunt on getting cheap embargoed oil through contacts then doubling the price. Good for him. :Joos: