Cantor does a carbon switch
After seeing the Point Carbon story this week titled “Cantor CO2e closes UK carbon desk” I called on Josh Margolis of Cantor CO2e to find out what’s up. Turns out, quite a bit.
After a strategic review of its operations, Cantor CO2e decided to move its EU emissions services to its New York and Houston offices.
But in this period of retrenchment in the carbon brokerage space, CantorCO2e sees this as an opportunity and is, in fact, looking for talent. Hiring in this climate? Well, turns out that by weaving its US emissions desk with the EU products, CantorCO2e is finding some nice synergies between EUA and US compliance and voluntary markets. Margolis is inviting talented brokers with a book of business to his firm.
To Margolis, a trading desk is defined by “the products that are transacted not where the brokers happen to sit. Bringing the EUA and CER products to the states for brokers to work alongside NOx, SOx, ERCs, RTCs, and US compliance and voluntary products opens up the opportunity to do cross product swaps that normally never would be considered or worked. I’ll do that trade all day long.” says Margolis, who is now CEO of CantorCO2e’s US and International operations. “We’re in the mode of “Let’s make this work.’”
So that’s the strategy from CantorCO2e. We wish them well.