Chief Trading Officer / Head of Trading, Akereos Commodities Limited

Akereos Commodities Limited is an energy trading business focused on power, renewables and battery optimisation. It was set up in May 2024 as the sister company of Akereos Capital, a leading boutique financial adviser in renewable energy, and provides route-to-market, balancing and optimisation services to renewable asset owners, with a c.1.1 GW trading book across GB and Germany. The business is AI-native and algo focused: trading is automated across day-ahead, intraday and balancing markets and run by a lean team on a proprietary platform.

Key Responsibilities

Structured products

• Originate, structure, price and close structured transactions with asset owners, utilities, corporates and financial counterparties e.g. shaped and fixed-price PPAs, revenue floors and collars, battery tolls, proxy revenue swaps, novel structured instruments and merchant-nose hedges
• Build the pricing and structuring approach with the trading/quant desk taking into consideration cost of credit, market risks and collateral requirements
• Lead the negotiation of structured documentation: PPAs, tolling agreements, EFET and ISDA schedules and credit support annexes

Trading and risk

• Oversee the trading desk at a senior level, setting its direction and keeping it aligned with the firms strategic goals, within agreed limits
• Allocate risk to profit-generating activities based on a thorough understanding of commodities and macro drivers
• Build the risk-transfer network/distribution for product risk and to facilitate smooth hedging with banks, utilities and insurers

Credit, collateral and funding

• Take a view across the full funding stack (equity, debt, guarantees and counterparty credit support) and advise the founders on the optimal mix as the business scales
• Work alongside the trading desk and risk function to ensure credit capacity is aligned and optimised to the trading strategy and does not become a constraint on growth
• Support route-to-market origination and wider origination efforts
• Support in formulating market entry and business development plans, then lead their execution

Required Skills & Experience

• Minimum of 15 years’ experience, most of it in a front office role in power or energy commodities: structuring, origination or trading
• Time spent at a bank, on a commodities desk or in structured commodity finance, with an understanding of how banks price and approve credit, collateral and capital
• Experience of the early stage of a new energy trading business e.g. a start-up, spin-out or new desk, ideally a smaller, leaner platform where the individual has operated with limited infrastructure
• A personal track record of originating, structuring and closing structured transactions, rather than oversight of a process run by others
• Experience of taking and quantifying risk: has been accountable for a trading book or risk position and its P&L, within limitsWorking knowledge of the operational reality of trading finance: margin calls, LC and guarantee facilities, credit support arrangements
• Credibility with counterparties and lenders at a senior level, and the judgement to negotiate terms independently
• GB and Central Western Europe power market experience
• Battery optimisation or tolling structures. This is a strong differentiator rather than a formal requirement
• Experience of insurance-backed or bank-intermediated risk transfer e.g. proxy revenue swaps, sleeved structures

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