A group of former Glencore traders has launched Tradeon, a Geneva-based company that aims to help smaller and mid-market commodity trading firms access financing facilities.
Tradeon is a wholly owned subsidiary of energy trader AB Commodities, which was founded in 2023. Its chief executive is Andreas Laskaratos and chief trading officer is Sebastien Willens, both of whom spent several years in trading roles at Glencore.
The company plans to use its expertise from the trading market – as well as key hires from the banking sector – to provide tailored trade finance facilities to companies that struggle to obtain finance from traditional banks.
Tradeon director Artem Lisovskiy, also a former fuel trader at Glencore, says the company aims to act as “a bridge into commodity trade finance” for clients. It works by acting as a party to the trade, taking title to the goods being sold.
“The idea is to support the supply chains, getting involved through purchase and sale agreements, with Tradeon acting as the principal in the transaction,” he tells GTR.
“We’re not providing working capital facilities; for us, having title is important. We’re also looking to support clients through the use of other financial instruments, such as opening letters of credit or if there is a cash-against-documents structure.”
Lisovskiy says Tradeon will assess potential clients based on how they manage their resources and supply chains.
“That’s why having title to the goods is key for us, and ensuring the goods are there and verifiable, rather than just getting involved in a product like receivables finance,” he says.
Under Swiss law, Tradeon acts as a financial intermediary affiliated with the Organisme de Surveillance pour Intermédiaires Financiers & Trustees, a self-regulatory organisation.
Lisovskiy says the company is looking to work closely with financial institutions and is prioritising transparency around the trades it supports. Investors are able to support transactions individually, or can create a portfolio based on their requirements, he explains.
“We’ve seen in some cases in this market that there hasn’t been enough transparency around the assets people are investing in, and this has meant trade finance is sometimes misunderstood,” he says.
