StanChart closes the first derivatives in FX, rates, commodities
Friday, 13 May 2011
FE Report
Standard Chartered Bank officials presented a commemorative cheque to Mr. Rabiul Alam, CEO, Energypac Engineering (the Premier power engineering company in Bangladesh) for the proceeds from the first Copper Swap transaction that was done in Bangladesh. The deal was a floating to fixed London Metal Exchange (LME Copper Swap). This landmark deal had helped Energypac to protect itself from adverse movement in Copper Prices. Mr. Alamgir Morshed, Head of Global Markets, Standard Chartered Bank thanked Energypac for partnering with Standard Chartered in this landmark transaction. He reiterated Standard Chartered's commitment to developing the local financial market, and said "We will continue to roll out many such landmark transactions in the near future." Mr. Rabiul Alam, CEO, Energypac Engineering thanked Standard Chartered Bank for enabling Energypac Engineering to hedge their Copper exposures in the financial market. "This kind of innovative banking facilities will make it easier for Bangladeshi companies to protect themselves from international price volatility of raw materials. Hedging allows companies to mitigate their risk exposures, which allows tighter stock control as well as efficient cash flow management." he added.
Standard Chartered Bank officials presented a commemorative cheque to Mr. Rabiul Alam, CEO, Energypac Engineering (the Premier power engineering company in Bangladesh) for the proceeds from the first Copper Swap transaction that was done in Bangladesh. The deal was a floating to fixed London Metal Exchange (LME Copper Swap). This landmark deal had helped Energypac to protect itself from adverse movement in Copper Prices. Mr. Alamgir Morshed, Head of Global Markets, Standard Chartered Bank thanked Energypac for partnering with Standard Chartered in this landmark transaction. He reiterated Standard Chartered's commitment to developing the local financial market, and said "We will continue to roll out many such landmark transactions in the near future." Mr. Rabiul Alam, CEO, Energypac Engineering thanked Standard Chartered Bank for enabling Energypac Engineering to hedge their Copper exposures in the financial market. "This kind of innovative banking facilities will make it easier for Bangladeshi companies to protect themselves from international price volatility of raw materials. Hedging allows companies to mitigate their risk exposures, which allows tighter stock control as well as efficient cash flow management." he added.