Steve Rich is a marketer of commodities, with worldwide activities in the marketing of non-ferrous and ferrous metals and crude oil, and continues to look for a bigger vertical integration in a variety of commodities on a global scale to reshape the commodity market.
Steve Rich operates globally, marketing physical commodities sourced from third party producers, and trades some of the world’s most critical raw materials, including zinc and copper.
The Big League traders dominate the international trade, which is today a highly concentrated industry, but with 39 years of commodity trading, Steve Rich has developed and built upon his expertise in the commodities he markets and cultivated long-term relationships with a broad supplier and customer base across diverse industries.
With a clear vision for more efficient crude-oil trading, Steve Rich recognizes cycles, driven by the tendency of many industries to become “perfectly competitive” over time, and takes appropriate actions.
Steve Rich is a specialist in commodities and foreign exchange market, [operations, clearance and settlement]. Mr. Rich has over 39 years of working experience in commodities trade, finance and foreign exchange industry. He served as registered stockbroker on the State Commodity and Raw Materials Exchange of Turkmenistan, [on behalf of Japan Petroleum], in connection with auctions for various commodities like: Gas Oil, Mazut M-100, Jet Fuel, Liquefied Petroleum Gas, and many other products. Mr. Rich owns a variety of e-commerce, communications and media brands.
Mr. Rich is active [in the foreign exchange industry], for one of world’s largest commercial foreign exchange providers in the City of London, which manages around $277 Billion USD’s worth of deliverable foreign exchange flows, and handles and deliveres ca. 6,700,000 transactions per year; working with world´s largest banks, hedge funds, private equity firms and companies, offering significantly sharper exchange rates on majors and exotic currencies and more favourable hedging facilities, both on-shore and off-shore clearing facilities for the settlement of all foreign exchange transactions, helping companies mitigate the volatility in currencies such as EUR, RUB, GBP and JPY against the USD by helping them understand future trends and forecasts, incl. flexible forward hedging lines which allows them to hedge forward up to 5 years, which ultimately allows to protect assets, budgets and cash flows whilst mitigating the risk of all FX movements within the mentioned year period.