ADM Investor Services International Limited Delivering Excellence in Financial Services
Our Core Values Our core values express what we expect of ourselves and each other. They guide our behaviour, and they serve as the foundation for our decision making. In everything we do at ADM, we embrace and embody these values: Have Integrity Be honest and true Show Respect Treat everyone and everything with care and consideration Achieve Excellence Be great at what we do and keep getting better Be Resourceful Make it work the right way Practice Teamwork Succeed together Take Responsibility Own it. Do it. Don t give up. 2
Letter from Our Managing Director Dear Reader, Thank you for your interest in ADM Investor Services International Ltd. ADM Investor Services International Limited competes for institutional and corporate brokerage business, in the international Commodities and Securities markets. ADMISI aims to offer the highest levels of customer service and transaction capability required by today s sophisticated financial markets participants. We specialise in exchange traded commodities and securities, centrally cleared across all market sectors on a multi asset class basis. Team ADMISI strives to earn our customers loyalty, through expert service and our unstinting commitment to excellence. ADMISI s strong values provide comfort to all customers both current and future; We do not take proprietary positions; the customer is our number one priority. We focus only on you, our most valued asset Operating as a single capacity broker; we do not have any conflicts of interest in the services we provide for you ADMISI is part of one of the world s leading clearers in futures and options. The care of our customers assets is at the centre of our business model Regulation has become a key driver in the financial services industry. ADMISI are supportive of the rules and regulations surrounding customer segregation and the protection of segregated funds. We look forward to working together. Sincerely, Fabian Somerville-Cotton Managing Director 3
ADM Global Corporate Structure Archer Daniels Midland Company (ADM) 100% Wholly Owned Subsidiaries ADM Worldwide Holdings LLC ADMIS Holding Company, Inc. ADM Investor Services, Inc. Benson Quinn Commodities, Inc. Hickory Point Bank & Trust, FSB. 15% Owned 100% Wholly Owned Subsidiary 100% Wholly Owned Subsidiary Archer Daniels Midland Europe BV ADMIS Hong Kong Limited * ADM Derivatives A division of ADMIS 100% Wholly Owned Subsidiary 100% Wholly Owned Subsidiary Archer Daniels Midland (UK) Limited ADMIS Singapore Limited * Archer Financial Services, Inc.* 100% Wholly Owned Subsidiary ADM Investor Services International Limited * * Ultimately, firm reports to ADM Investor Services, Inc. management in Chicago, Illinois. U.S.A. Corporate structure is formulated based on strategic tax implications and regulatory requirements. ADMISI Commodities Private Ltd (Mumbai) ADMISI Forex India Private Limited (Mumbai) 51% Owned 100% Owned * ADMISI is a wholly owned subsidiary of Archer Daniels Midland (UK) Limited and indirectly is a subsidiary of Archer Daniels Midland Company (ADM). 4
About ADM Archer Daniels Midland Company is one of the largest agricultural processors in the world. Serving as a vital link between farmers and consumers, we take crops and process them to make food ingredients, animal feed ingredients, renewable fuels and naturally derived alternatives to industrial chemicals. As everything ADM does begins with agriculture, our partnership with the farming community is vital. Farmers are essential to the overall economy, and that s why we work to be essential to them - creating thousands of products from their crops and hundreds of markets for their crops. Founded in 1902 and incorporated in 1923, ADM operates processing and manufacturing facilities across the United States and worldwide. Through our extensive global distribution facilities and capabilities, ADM makes a significant contribution to the world s economy and quality of life. Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) work to connect the harvest to the home, turning crops into renewable products that serve the vital needs of a growing world. At more than 265 processing plants and 460 sourcing facilities, we trade, transport, store and process corn, oilseeds, wheat and cocoa into products for food, animal feed, industrial and energy uses. We are committed to the responsible, sustainable development of agriculture throughout the world. Headquartered in Decatur, Illinois, ADM connects crops to markets in more than 140 countries on six continents. Net sales for the calendar year 2014 were $81.2 billion. 5
Our Business ADM Investor Services International Limited (ADMISI) is a full service multi-asset brokerage company with an 80-year corporate history in London and extensive experience in the international investment markets, offering clearing and brokerage services into all major investment markets. ADMISI is a wholly owned subsidiary of Archer Daniels Midland (UK) Limited in the UK and indirectly is a wholly owned subsidiary of Archer Daniels Midland Company. 6
Products and Services Commodity Markets As one of the world s leading food processers, we have a wealth of expertise in agricultural markets. This is supported by extremely experienced and professional teams in each of the main fields of the industry: energy, metals, grains, sugar, coffee and cocoa. Our 24 hour trading desk enables ADMISI to cover all aspects of the industry around the clock and around the globe. Foreign Exchange With net sales of over US$81.2 billion in 2014 involving 140 offices on six continents, we are extremely proud of our highly experienced team in foreign exchange. Global Investment Broking Our 24 hour trading desk is there to support all client trading through the time zones in all the markets throughout the year. Clearing/Straight Through Processing Our highly experienced and professional team supports all aspects of clients accounts from execution through to settlement. We value our clearing and settlement capabilities as a core competency for ADMISI. Securities Markets As members of the London Stock Exchange, we have a highly knowledgeable and energised securities group to meet your requirements. Market Commentary and Information We are able to call on a global network of market commentary covering all topics of the business, which can be found on our website, or delivered by email or hard copy as you require. Electronic Trading Platforms/Direct Market Access ADMISI is able to provide access to the most dynamic trading systems in the industry in futures, options, FX, CFDs and equities. At ADMISI, we provide a full brokerage service that includes clearing and brokerage into all major investment markets and exchanges. We provide our customers access to an extensive range of investment opportunities, enabling effective risk management in all market conditions. 7
24 Hour Global Investment Broking Our Global Broking Desk offers a discreet, efficient, highly personalised service to all customers. We specialise in the execution, clearing and settlement of equities, futures, options, CFDs, commodities, metals and FX on a worldwide basis. Diverse Solutions for Diverse Customers The 24 Hour Global Investment Broking Desk combines decades of experience with a forward thinking and innovative broking philosophy for customers ranging from private individuals to funds and market counterparties with comprehensive solutions backed by the highest standards of customer care. Our team offers a non-advisory and non-proprietary brokerage service. This dynamic and transparent approach ensures that our customers have optimal access to traditional and emerging markets and without conflicts of interests. 8
Exchange Traded Futures & Options The 24 hour team provide a professional and comprehensive solution to any client trading futures and options. Principal markets covered include CME, CBOT, NYMEX, COMEX, EURONEXT, EUREX, ICE, LME & DGCX as well as numerous other exchanges globally. Exchange Cleared Futures & Options Access to OTC exchange cleared contracts, benefiting greater security, are offered through our facilities with CME Clearport, ICE Clear Europe, ICE Clear U.S, ICE Bclear LIFFE, LCH, Clearnet, EUREX block trading. Shares & CFD Trading We cover UK, European, North American and Asian markets. As ADMISI do not take proprietary positions, all stock trades are transacted on recognised exchanges. Foreign Exchange ADMISI has longstanding relationships with many of the world s leading banks. These banks provide ADMISI and our clients with access to the global FX marketplace, Institutional FX, Non Deliverable Forwards (NDFs), Deliverable FX for Corporate Clients and MT4 Brokers. Benefits of Working With Our Global Broking Desk Single point of contact 24 hours / 5½ days per week Long established, highly skilled brokerage team Telephonic or Electronic trade execution 9
Grains Desk ADM and its global subsidiaries have a significant involvement in worldwide commodity markets. The ADMISI International Grains Desk has a wealth of experience in servicing investors, users, traders and hedgers in the grain futures markets. Every day, customers take advantage of our swift and accurate trade execution and expert market commentary. 10
Discover the Value of a Partnership with Global Experts Our International Grains Desk offers a full client service, starting with phone broking and access to a number of our company s trading system providers. We can handle the execution and/or clearing of most global grain and oilseed derivatives and their associated products, including: Freight Biofuels Coal Fertiliser We offer a full commentary on the markets we cover and have a yearly foray into the fields for a comprehensive crop analysis report. Our team of market analysts are some of the most highly regarded professionals in the industry and provide customers with timely, accurate and useful market information. Benefits of Working With Our International Grains Desk Trade access to all major worldwide markets Global grains markets expertise and crop analysis Market Commentary reports available for all growing and trading regions 11
Cocoa The ADMISI Cocoa desk offers, in addition to execution and Direct Market Access (DMA), a fully integrated clearing operation. We can assist in providing trading screens via carefully selected Independent Service Vendors (ISVs) to best fit our clients execution requirements. 12
Specialist Arbitrage Expertise The ADMISI Cocoa trading desk is an industry leading arbitrage specialist spanning 25 years in business. Execution brokerage specifically for major trade, industry and specialised funds, offers a truly bespoke service for our clients. Our arbitrage capabilities are spread uniquely across both sides of the Atlantic, capitalising on our dual London - New York operational service. Cocoa Matters The team provides exceptional dedicated support for customers active in the principal listed derivatives markets. Our desk prides itself in its ability to produce niche and tailored market commentary to customers. 13
Energy ADMISI is one of the major clearers for energy futures products and OTC Exchange cleared energy markets. We are members of ICE, CME and DME and have access to all other energy related exchanges, providing access to all the key markets. Our experienced front and back office team is ready and able to assist all customers with their energy product trading, clearing and delivery needs. 14
Helping you find the right solutions We have specialised traditional voice and electronic broking desks that cover energy futures products, block EFP/EFS postings and ICE OTC cleared products. We also offer customers a varied selection of ISVs to meet their specific needs. As a desk, we can help you assess which solution best suits the needs of your business in terms of products for hedging and risk management. As energy is developing further, we continually keep our clients up to date and list new exchange products cleared on ICE, CME and other exchanges. As a highly experienced energy department, we realise that credit is an integral part of trading energy. We are able to help provide credit to facilitate your business. Benefits of Working With Our Energy Desk Personal and technical support offered to suit your requirements Energy voice broking desk support available from 8 a.m. to 7:30 p.m. After-hours assistance from our 24 hour global trading desk Ability to provide credit to facilitate your business 15
Sugar & Coffee The ADMISI sugar and coffee desks offer a highly professional brokerage service in futures and options on the world s largest international exchange traded sugar and coffee markets. 16
Global Reach with a Personalised Touch The ADMISI sugar and coffee desk offers a highly professional brokerage service on the world s sugar and coffee derivatives markets. We offer a quick and efficient execution of orders, including arbitrage between New York and London sugar and coffee respectively. We have a large customer base of producers, trade houses, enddestination and funds, which allows us to see very good market flow. We provide quick and efficient execution of orders, including arbitrage between the New York and London markets. We have a large customer base of producers, trade houses, end-destination and funds, which allows us to see very good order flow. We are also very experienced in making or taking physical delivery on behalf of clients in both commodities if required. Our clearing services are tailored to fit our clients individual needs, including customised recaps, accounts, statements and straight through processing. For our commercial clients we offer, subject to credit approval, margin finance at competitive rates. The New York sugar market is the world s benchmark contract for raw sugar, trading an average of 2.3 million contracts a month. The London white sugar contract is used globally for pricing of physical white sugar. The white sugar premium, trading the arbitrage between the two markets, is also actively traded by refiners, physical traders and funds. The New York C Coffee contract is the world standard for arabica beans grown across Central America, South America and East Africa, while London is the main contract for Robusta beans grown mainly across Asia and West Africa. 17
Base Metals ADMISI is a category 2 associate broker clearing member (ABCM) of the London Metal Exchange (LME). Our customer base comprises producers, consumers, traders and institutional clients in Europe, Asia and the U.S. 18
Decades of Experience Ensures Quality Service Base Metals are executed through either ADMISI s voice or electronic trading desks respectively. LME execution and clearing has been an important feature of the company for 20 years. We trade all LME cleared products from outrights to swaps, options and hedging facilities, in all the major currencies. Our customer base has a worldwide reach, covering the full range from listed global entities to small corporate groups. Benefits of Working With Our Voice and Electronic LME Desks Long established, highly skilled brokerage teams Telephone or electronic trade execution Access to credit lines for suitable counterparties ADMISI e-business manages a large number of electronic trading clients who require fully automated execution, allocation and clearing on LME. We focus on maximum operational efficiency for LME e-clients, providing automated file postings for LME carries, STP for post trade allocations and automated recaps and trade files for clients Clients can order route to LME Select using TraderPro a sophisticated order routing system or via the Financial Information exchange (FIX) electronic communications protocol, which enables real-time transactions between customers order management systems and ADMISI s electronic trading systems 19
Foreign Exchange In these times of financial uncertainty, it has never been more important to choose your FX counterparty with care. ADMISI s FX Desk is your ideal partner, offering a brokerage service from a company with a strategic financial pedigree of more than 80 years. 20
24 Hour Foreign Exchange Expertise ADMISI s FX Desk brings a vast array of market access, products and services, including 24 hour technical, fundamental, economic and high touch trading expertise. Typically, our customers comprise high net worth individuals, fund managers seeking liquidity or prime services, through to financial institutions and commercial hedgers seeking currency deliveries. Benefits of Working With Our FX Desk ADMISI provides a 24 hour FX desk priding ourselves on tight, timely market fills on currency trades including Spot, Forwards, NDFs and EFPs We also offer currency hedges against stock, commodity and other asset classes through online platforms, telephone, IM or Reuters Dealer (ADML) We provide solutions for IBs, IAs, APIs and opportunities for electronic access to ADMISI s FX liquidity 21
Equity Division (Cash and Derivatives) ADMISI Equity Division is the specialist equities broking team offering a highquality, value-added service to both institutional and private investors across a broad range of markets primarily equities, equity derivatives and equity options. With the advantages of a small client-focused team and the financial strength of an industry leader, we place our clients needs at the centre of everything we do and deliver the services they demand. 22
From Private Individuals to Institutional Investors Offering brokerage facilities to banks, fund managers and individuals worldwide, ADMISI draws on its resources its people, products and market perspective to serve both institutional and private clients across equity and fixed income markets by offering the professional services, transaction capabilities and personal expertise they require. Clients may take advantage of our technology to gain direct market access or call our traders to take telephone orders or both. We are here to help. Empowering Our Customers The institutional team specialises in providing execution and clearing services in both on and off exchange cleared products. Our clearing services are tailored to meet each client s requirements; offering customised recaps, account statements, give up/allocation business and straight through processing. Clients are able to execute orders electronically via one of the many platforms supported and offered by ADMISI. The majority of these platforms also offer API connectivity, which allows for custom built systems and algorithmic programmes to connect seamlessly for market data and order routing. In addition to self execution, we offer a telephone dealing service accepting orders via telephone, email or Yahoo Instant Messenger. Benefits of Working With Our Sales Desks Cutting edge trading platforms Customised managed account programmes Market leading FX capabilities Sophisticated risk management tools 23
Sales Our Institutional desk provides a bespoke execution and broking service across the main global exchanges and OTC Exchange cleared markets, including most financial and commodity derivatives. Our client base ranges from fund managers and corporate hedgers to professional clients. 24
Matching Vast Experience with Client Requirements Our range of services covers equity options and futures, cash equities, contract for difference and Fixed Income. The Equitiy and Fixed Income teams respectively vast experience enables them to handle all strategies our clients are undertaking tailored to your execution requirements. Fixed Income Sales Operating in all major bond markets, including their derivatives thereof, we utilise our network of direct market and client contacts to transact with discretion. Our well-established team works closely with the research department to provide our clients with quality, impartial views. Benefits of Working With ADMISI Equity and Fixed Income Divisions Orders can be taken via our front-end platforms, voice or online messaging services A tailored service for all experience levels and requirements Lower operational costs, personal service expert advice and customer support Leading market commentary and information 25
Clearing & Settlements ADMISI is able to facilitate clearing and straight through processing requirements for external groups by providing omnibus and screen-based trading facilities and support. Our dedicated back office operational group supports electronic links and provides an experienced personal service to ensure efficient processing and backup. We have a strong middle office capability to ensure clients needs are addressed as quickly as possible. We are also experienced in all aspects of deliveries. 26
Offering Answers for Any Question, Any Problem, Anytime At ADMISI, we are aware that clients are able to trade products on multiple markets. We ensure that staff in the clearing area are able to assist clients with any queries they may have throughout the business day. Our clearing area is manned between 7 a.m. and 11:30 p.m. Our securities settlement area is manned from 7:30 a.m. until 9:30 p.m. and looks after all aspects of foreign and local security settlements. We recognise that clients will use different clearers and custodians and will have individual requirements as to how they receive and deliver data. Our clearing team is set up to deal with a range of third parties and their data feeds to allow a seamless process for the client. Benefits of Working With Our Clearing & Settlements Group Support for give-up business assists our non-clearing customers Our middle office system connects to 9 of the major European exchanges with additional connections to CME and ICE US in the United States ADMISI customer service team is experienced in the trade clearing arena 27
Global Office Locations ADMIS Chicago ADMIS strives to make a positive difference in the communities where we work and live, with a strong commitment to education and funding educational initiatives that provide work-based learning experiences, as well as improving the quality of life today, as we help to create a better future tomorrow. 28
ADMIS Chicago ADM Investor Services (ADMIS) is a leading U.S. Futures Commission Merchant headquartered in Chicago, Illinois. For more than 45 years it has specialised in providing swift and accurate futures trade execution, clearing services and market analysis across all markets and to a wide range of customers. The company is a member of all U.S. futures exchanges and operates through a network of Introducing Brokers, branches and affiliated companies located across the United States and around the globe. Benefits of Working With Our Chicago Office The home of Investor Services Group and sister company to London enables clients to be supported in the best location to match their requirements. Support and back up for the trading and clearing departments in London. Chicago is the Hub for providing all Global office locations and their clients with statements that are operated 24 hours a day. 29
30 ADMIS New York
ADMIS New York New York is a major branch office of ADM Investor Services which provides global market coverage, trade execution and clearing services to our diverse clientele, which includes commercial and institutional accounts. While we provide our clients with access to all markets, we have distinct expertise in Metals, Energies, Soft commodities and Global Macro products. Our sales team has an average of 25 years experience, providing advisory support in helping our clients manage their risk. Benefits of Working With Our New York Office London and New York have multiple synergies and work closely together to provide the very best possible service to both our individual and collective client base. Provide extensive Electronic trading and DMA solutions and capabilities 31
ADMIS Hong Kong ADMIS Taipei 32
ADMIS Hong Kong ADMIS Hong Kong Limited is a leading futures broker for both individual and institutional investors in Hong Kong. We have provided global futures and options trading services to our clients in the Asian Pacific region for almost 20 years. Our team is experienced, and specialises in futures and options trading in the commodities, metals and stock index markets. Benefits of Working With Our Hong Kong Office Provide extensive E-Trading solutions and capabilities Close mutual synergies with London enables both locations to service customers more strategically Provide comprehensive Market Commentaries ADMIS Taipei ADMIS Taipei provides unique domestic solutions to its local clients. 33
``vv ADMISI Gibraltar Branch ADMISI maintains a branch in Gibraltar that tailors its local services and expertise to international clients. 34
Our Services ADMISI Gibraltar offers multi-asset class, global clearing and execution services for funds and managed accounts with vetted etrading Platforms (ISVs), low latency environments, FIX API for developers and client reporting tools. We provide our customers access to all major global markets and an extensive range of investment opportunities, enabling risk management in all forms of market volatility. We offer global market execution for family offices and wealth managers. ADMISI Gibraltar offers competitive spot and forward pricing extending to streaming NDF currencies including Indian Rupees (INR), Russian Rouble (RUB) and Brazilian Reals (BRL). Benefits of Working With Our Gibraltar Branch Global clearing solutions for commodities, energy and metals E-trading execution and clearing solutions Secure online access of client statements and reports Managed account platform for managers and investors Full risk management and post-trade reporting transparency 35
ADMISI India ADMISI Commodities and ADMISI Forex compete for institutional corporate and brokerage business in the Indian commodity and currency derivatives markets by offering the professional services and transaction capabilities required. 36
Helping you find the right solutions We are committed to offering unparalleled customer service, global commodity and currency expertise, trading, advisory and execution services to each of our corporate and private clients in India across all the major commodity and currency derivative exchanges operating in India. As a matter of policy, we do not undertake proprietary trading. We assist our clients in effectively managing their commodities and currency risk by providing hedging and trading solutions on Indian commodity and currency derivative exchanges. We focus on providing extensive expert analysis and market commentary on the actively traded futures segment in commodities and currencies and are also known for our in depth, accurate, timely and singularly beneficial market information. Benefits of Working With our Indian Offices Local expertise in domestic markets Expertise in physical local deliveries E-trading execution and global clearing solutions Ability to hedge foreign exchange 37
ADMIS Singapore The ADMIS Singapore dealing team provide both high-touch and technologically sophisticated approaches, maintaining stringent punctuality and tailored market commentaries catered to client requirements. 38
ADMIS Singapore ADMIS Singapore, established in 2011, is a leading broker in Asia. Delivering consistent excellence, its customer base spans the region in various industries trading products including metals, agriculture, energy and indicies. Customers place their confidence in our licensed dealing team s extensive markets knowledge, to deliver strong client focused support and services around the clock. Steadfast Clearing ADMIS Singapore extends the capabilities of a well-integrated back office team, delivering reliable and steadfast clearing services to all its customers recognising the growing importance of post-trade processes and STP. As a registered Singaporean capital license holder, ADMIS Singapore fully vanguards integrity and complies with the Monetary Authority of Singapore Regulations. Benefits of Working With our Singapore Office Local and panwise Asian expertise in commodity markets Global clearing solutions 39
Corporate Social Responsibility ADMISI strives to make a positive difference in the Communities where we work and live, with a strong commitment to education and funding educational initiatives that provide work-based learning experiences, as well as improving the quality of life today, as we help to create a better future tomorrow. ADMISI strives to make a positive difference in the communities where we work and live, with a strong commitment to education and funding educational initiatives that provide work-based learning experiences, as well as improving the quality of life today, as we help to create a better future tomorrow. 40
Our Focus and Commitment Directly to Our Neighbouring Community ADMISI s Community Activity focuses on developing the employability skills of young people in education. We work with specific secondary schools in Tower Hamlets, East London, in particular Bow School. ADMISI s volunteering schemes include Mentoring and the Getting Ahead programme through Tower Hamlets Education Business Partnership (THEBP). Getting Ahead Programme Getting Ahead is a programme of employability skills conferences for Tower Hamlets secondary schools. These conferences are divided into various workshops, each covering a certain area of work, such as first impressions, employer expectations, team work, problem solving, applying for a job and interview skills. Typically, there are approximately 70 students, 14 to 15 years old, divided into teams of 7 to 8. Each team has an ADMISI employee volunteer who guides, supports and motivates their team as they work through the workshops. Mentoring ADMISI supports Bow School through THEBP Mentoring Scheme which aims to equip pupils with a better understanding of career opportunities, develop their employability skills and widen their view of the opportunities available to them. 41
Contact Information By mail: ADM Investor Services International Limited Millennium Bridge House 2 Lambeth Hill London EC4V 3TT United Kingdom By phone: +44 20 7716 8142 By e-mail: admisi@admisi.com 42
THE
ADM Investor Services International Limited is authorised and regulated by The Financial Conduct Authority. Member of The London Stock Exchange. Registered office: 4th Floor Millennium Bridge House, 2 Lambeth Hill, London EC4V 3TT. Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value, investors should therefore be aware that they may not realise the initial amount invested, and indeed may incur additional liabilities. These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere. i2199