Citi has won the top-ranked derivatives house of the year accolade again in the highly regarded Energy Risk annual awards, and also emissions house of the year and precious metals house of the year.
This is the third year in succession that Citi has won the highly coveted title of commodity derivatives house of the year – an unprecedented achievement. The awards were presented on May 17 at a dinner and ceremony in Houston, Texas.
The Energy Risk awards celebrate excellence across global commodity markets. The winners were determined by editorial choice after a rigorous pitch submission and interview process lasting from February to May 2016. Particular attention was paid by the editors to first hand feedback from clients.
“Citi has bucked the trend and built out its commodities business at a time when many other investment banks have been exiting these markets. It has been a consistent market-maker in recent years, and it continues to execute complex, structured transactions for its clients. For these reasons we are pleased to give Citi the derivatives house of the year award for 2016,” said Energy Risk editor Alex Osipovich.
The award for best emissions house is underpinned by Citi’s commitment to and strength in renewable energy, citing its role in the provision of clean energy to a Facebook data centre in 2015.
Meanwhile, Citi has leapt up the rankings among the big precious metals houses, and its capacity to provide large-scale bullion hedges to a variety of clients lay at the heart of the winning of the award for precious metals.
“To be recognised by Energy Risk once more is a great honour and we are very pleased. Citi has made significant progress in commodities in recent years, and it is particularly satisfying to have that acknowledged by such an astute observer of our markets,” said global head of commodities Stuart Staley.”