Goldman Sachs Set to Initiate Trading of Japanese Power Futures, According to Sources
![Goldman Sachs](https://asiantrade.tv/wp-content/uploads/2023/06/Goldman-Sachs-Asset-Management-Offers-600-Million-to-Acquire-Norways-Froy.jpg)
Tokyo, Japan – In a move reflecting increasing interest from international energy companies and banks, Goldman Sachs Group (NYSE: GS) has unveiled plans to establish a dedicated desk in Tokyo for trading Japanese power derivatives. Two individuals familiar with the matter revealed this information to Reuters on Wednesday.
The Japanese power market was inaugurated in 2016 following the Fukushima nuclear disaster in 2011, propelling trade activities involving generators, consumers, and distributors. As the volatility of electricity prices soared in the aftermath of Russia’s incursion into Ukraine, a surge in trading interest ensued in Japan’s power futures markets. This power crisis intensified the demand for hedging among power suppliers and buyers, according to reliable sources.
To facilitate their expansion into this burgeoning market, Goldman Sachs has discreetly recruited a group of skilled traders in Tokyo. As the matter is still confidential, the sources chose to remain anonymous when disclosing this detail.
When approached for comment, a spokesperson for Goldman Sachs opted to withhold any statements on the matter.
Stay tuned for further updates on Goldman Sachs’ bold foray into the dynamic realm of Japanese power derivatives trading.