Fixed Income, Currencies and Commodities

Fixed Income, Currencies and Commodities is a global network of diverse specialists providing trading, financing and risk management services in a range of commodities markets.

Fixed Income, Currencies and Commodities (FICC) employs approximately 800 staff engaged in business activities across Australia, Brazil, Hong Kong, India, Japan, Korea, New Zealand, the UAE, the US and the UK. Fixed Income, Currencies & Commodities Group comprises of the following areas:

• Agricultural Commodities 
• Credit Trading 
• Debt Markets 
• Emerging Markets 
• Energy Markets 
• Foreign Exchange 
• Futures 
• Metals & Energy Capital 
• Central

Agricultural Commodities

The Agricultural Commodities (Ag) trades in agricultural (softs, grains) & freight derivative instruments. Ag provides innovative and tailored risk management solutions to agriculture producers and consumers. The majority of Ag's customer base is located outside of Australia, and as a result, staff are predominately located in London and New York with sizable marketing activities in Australia and Brazil. The US office plays an important role in the business as many of the world’s major agricultural commodities exchanges are located in the US. Additionally UK and European exchanges are accessed via the London office.

Credit Trading

A relatively new business for FICC, the Credit Sales & Trading (CST) Division facilitates client transactions with institutional investors, and takes proprietary positions through market making in, trading of, and investing in corporate bonds, syndicated bank loans, asset-backed / mortgage-backed securities, and derivatives on these products.

The CST team is based in New York with a focus on US products and clients.

Debt Markets

Debt Markets is active in mortgage and auto-backed securities, infrastructure financing, synthetic risk transfer via securitisation or credit default swaps, inflation linked bonds, credit and interest rate derivatives/structuring.

Debt Markets carry out book running, risk and proprietary trading and offer clients interest rate risk management services (swaps and options) as well as originate, structure, place and research debt securities.

Predominantly a Sydney based business, Debt Markets also has a small presence in Sydney, Melbourne and London.

Emerging Markets

The Emerging Markets Division provides a broad range of products and services to institutional investors globally as well as to clients in Latin America and the Caribbean through its presence in Miami, New York and London. The Sales and Trading teams specialize in providing execution, derivatives, financing and structured products over emerging markets bonds, credit, distressed debt and FX.  The Private Capital Markets and Advisory teams provide a range of financial services including debt restructuring, capital raisings and direct investments into emerging markets.

Foreign Exchange

The Foreign Exchange Division operates 24 hours a day including public holidays, and provides pricing in all currencies, in all products and in all sizes.
 
The Division is segregated into Trading, Sales, Structuring, Joint Ventures/Business Alliances, and Investments, with staff members located in Australia, New Zealand, U.A.E, Japan, Hong Kong, and the United States.
 
The Foreign Exchange Division price makes, and runs books in all spot currency markets, currency options, FX forwards, cross currency swaps and also services corporate and institutional clients globally, covering all products, research and structuring.

Futures

The Futures Division has been an active participant in futures markets in Australia since 1979, maintaining a presence as a leading execution and clearing member of the Sydney Futures Exchange. Now with operations in London, Melbourne, New York, Seoul as well as Sydney it has an established client base comprising many leading fund managers, government and public enterprises and international banks, and provides opportunities for clients to benefit from movements within the financial markets as well as offering protection for existing exposures.

Metals & Energy Capital

The Metals and Energy Capital (MEC) Division applies expertise to financing and trading opportunities for clients globally.

MEC provides a 24-hour price making facility for base and precious metals (including aluminium, copper, zinc, gold and platinum) along with financing and structured hedging facilities for precious metals. The Division employs former geologist, mining and petroleum engineers allowing MEC to approach its financing opportunities with deep technical knowledge and understanding of project fundamentals. 

Macquarie is one of the principal providers of liquidity in the Asian time-zone and ranks among the top five participants in the London Metal Exchange (LME) market globally.

Central 

The Central Division is an incubator for various non-division specific, early stage or cross-divisional initiatives. This currently includes Environmental Financial products and the Group’s hedge fund sales channel as well as the management of joint ventures and alliances.

Meet our people

Find out more about our people.