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MF Global Ltd., a leading intermediary of global cash, derivatives and related markets, has announced a broad expansion of its over-the-counter energy brokerage in Singapore, which includes the addition of seven fuel oil brokers.

“The rapid development in the Asian Pacific theatre make the region a strategic priority for MF Global’s growth,” said Larry O’Connell, the head of MF Global’s Asia-Pacific operations.

“As the demand for risk transfer instruments increases, our clients will benefit from a more diversified product offering in the region.”

The company has secured two new OTC energy broking teams, which comprises of nine middle distillates (jet fuel, kerosene and gasoil) and seven fuel oil brokers. The teams will service MF Global’s Asian client base and be a key component in the company’s existing global energy brokerage.

“As a result of tighter credit in global commodities, OTC energy markets are gradually shifting towards clearing trades, effectively mitigating the counterparty risk from transactions,” said Mikal Bøe, head of Commodities for MF Global in Asia.

“As a leading clearing member of SGX, ICE and NYMEX, MF Global is uniquely positioned to provide clients with the certainty of a centrally-cleared transaction while offering competitive pricing and the anonymity to protect their competitive interests,” said Bøe.

With the addition of these teams, MF Global is able to offer its clients a full suite of services, from execution to clearing and assistance with margin optimization and hedging strategies.

While serving existing clients in Singapore’s mature and liquid market, the Asian energy teams will use the company’s Asian network to reach new investors, adding to liquidity originating in Europe and the U.S., to provide a seamless flow of orders and intelligence to the market.

MF Global has also recruited a team of five equity derivative specialists in Hong Kong.

“Hong Kong is an important centre for equity derivatives in Asia and this team brings the considerable experience that our clients demand, and ensures that we remain a leading provider of equity related products in the Asia-Pacific region” said Peter Lewis, head of Equities and Equity Derivatives, Asia-Pacific and CEO, MF Global, Hong Kong.

“This new team, coupled with the current volatility in the marketplace provides MF Global with outstanding opportunities to increase the reach, scope and scale of this business,” said Lewis.

The additions to MF Global’s energy and equity derivatives teams in Singapore and Hong Kong, respectively, augment the company’s presence in Asia Pacific, with operations in Japan, Taiwan, India, Hong Kong, Dubai, and Singapore and Australia.