Commodity Hedge Fund Vermillion Establishes Presence In Shanghai Free-Trade Zone

May 16 2014 | 1:44pm ET

The Carlyle Group's commodity hedge fund unit has set up shop in Shanghai's nascent free-trade zone.

Vermillion Asset Management incorporated a trading unit in the China (Shanghai) Pilot Free-Trade Zone, an 11-square-mile area in China's largest city. The zone offers fewer restrictions on interest rates, yuan conversion and other matters than the rest of China.

New York-based Vermillion's Shanghai unit is headed by Ian McGuinn, Bloomberg News reports.

Vermillion joins fellow commodities traders Trafigura Beheer and Louis Dreyfus Commodities in establishing a presence in the Shanghai zone, which may soon boast commodity exchanges led by Baosteel Group and the Shanghai Gold Exchange.

Carlyle owns 55% of Vermillion, buying the stake in 2012.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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