Olivier Raevel – MarketsWiki Education Open Outcry Traders History Project

John Lothian

John Lothian

Executive Chairman and CEO

Olivier Raevel is the first trader from the International Petroleum Exchange, or IPE, to be interviewed for the JLN MarketsWiki Education Open Outcry Traders History Project. He made history as a founding member of ICE and recommended that ICE buy the IPE. He was among the first generation of electronic traders in commodities, pushing the OTC online trading of ICE in competition with Enron Online.

Raevel has been a floor trader, an over-the-counter trader, a founding member of the board of ICE and an exchange executive. Today he works for Griffin Markets.

As a young man required to serve his country, Raevel chose civil service over military service in France and after completing business school, he was hired by a bank. His position at the bank was as a market maker on the floor of the International Petroleum Exchange, or IPE, for which he earned the pay of a soldier. 

He has a background in mathematics and science and wanted to become a pilot.  However, his eyesight became an issue and he turned to business.

Following a successful 16 month stint at the IPE, he was hired by Societe Generale to be an upstairs energy trader.

He later moved to New York and traded OTC against NYMEX products. He had two tours in the U.S. and met his wife there and they had two children during those years.

While working for Societe Generale, he was assigned to be the bank’s representative for the ICE project. This was at the time of the founding of the InterContinental Exchange as a competitor to Enron Online in trading over-the-counter energy products.  ICE’s Jeff Sprecher had originally tried to partner with NYMEX to be their OTC solution, but was laughed out of the board room, Raevel said.

While a board member of ICE, he suggested they should buy the IPE, so they could combine the futures and the options to trade electronically together. 

After stints at ABN AMRO and later Koch Supply & Trading in Switzerland he moved into market infrastructure and became involved with BluNext, a “failing spot missions quota trading outfit.” NYSE Euronext was one of the owners of BluNext. After ICE bought NYSE Euronext and spun off Euronext, Raevel was asked to help develop the commodities business at Euronext. He eventually became a Euronext employee and head of commodities.

He is now with Griffin Markets, a large specialist in natural gas and power, where he is managing director for Europe.

Here is his story for the MarketsWiki Education Open Outcry Traders History Project.

John Lothian Newsletter

Today’s Newsletter

We visit more than 100 websites daily for financial news (Would YOU do that?)

More Trader History Videos

Kenny Polcari – Open Outcry Traders History Project Part 2

Kenny Polcari – Open Outcry Traders History Project Part 2

When Kenny Polcari started out at the New York Stock Exchange, “It was paper and pencil until the turn of the century,” he said. 

The exchange started to introduce handheld computers in the late 1990s, but it was only in beta, not full blown yet.  Everyone was preparing for Y2K. When Y2K happened and the technology didn’t fail, Polcari said, there was a push on the industry to move forward with modernization. They converted all the stocks over to decimals alphabetically, one at a time, over a six-month period, starting with the stocks named A to D. 

Kenny Polcari – Open Outcry Traders History Project Part 1

Kenny Polcari – Open Outcry Traders History Project Part 1

When he was young, Kenny Polcari wanted to be in politics – preferably to eventually be president of the United States. But, he said, “Thank God none of that came true.”

When he was 19, he interned on the floor of the New York Stock Exchange. He knew nothing about the business and was from Boston rather than New York. At first he thought, “Who wants to move to New York City in the summer as a 19-year-old kid?”  He was going to go back to Cape Cod and be a lifeguard.  But he thought about it and did his homework and said, “What’s the worst that can happen?” 

Options Veterans Forge New Path With Tried-And-True Strategy

Options Veterans Forge New Path With Tried-And-True Strategy

As its name suggests, Options Solutions is an options-centric asset-management firm that aims to increase the returns of investors’ portfolios with customized options strategies. JLN’s John Lothian and Suzanne Cosgrove recently interviewed the founders of the new enterprise, described by CEO Michael Brodsky as an early-stage, high-growth company. Team members are led by former CBOE Chairman and CEO Bill Brodsky, as well as Michael, his son, and options industry strategist Steve Sears.

Larry Abrams Part Two: Trader, “New York Jew” and Magician

Larry Abrams Part Two: Trader, “New York Jew” and Magician

Trader Larry Abrams Talks About His Career for the Open Outcry Traders HIstory Project

In part two of the JLN MarketsWiki Education Open Outcry Traders History Project interview with Larry Abrams, he talks about the emotionally draining market openings every day, his rather ugly experience in Kansas City opening a futures trading operation for Cooper Neff, options exercised out of the money, electronic trading, economic opportunity (and small worlds) and being a magician.

Pin It on Pinterest

Share This Story