ABN AMRO opens first SIP desk in Asia in Singapore

SIP transactions will be facilitated via Icestar.

Dutch bank ABN AMRO is establishing its first commodity Structured Inventory Product (SIP) presence in Asia with the launch of a dedicated SIP desk in Singapore.

The SIP desk will handle global and regional commodities clients of the bank’s energy, commodities and transportation (ECT) business. It will enable commodities clients to access on the ground expertise in Asia and will be run by Chuey Peng Ng, executive director, commodities Singapore and Julien Moreau-Pernet, head of structured inventory product Asia.

The establishment of the SIP desk in Singapore underscores ABN AMRO’s role as a growing regional hub for oil, metals and agri-commodities physical trading.

SIP transactions will be facilitated via Icestar, an ABN AMRO investment vehicle that provides ownership-based financing of commodities where the bank plays an intermediary role by taking legal ownership of physical commodities for a pre-defined period, enabling clients to manage their working capital efficiently and access new sources of liquidity.