EP 099: What happens on a merchant trading desk—with energy veteran, Brynne Kelly

Aaron Fifield Podcast 1 Comment

My guest for this episode is Brynne Kelly; an electricity, natural gas, and crude oil trader who’s spent the majority of her career on merchant trading desks, for the likes of BP amongst others. She has also been a prop trader and has experience as a hedge fund portfolio manager.

A few of the key topics we hit on include: Brynne’s responsibilities as head of trading desks, how she taught, trained and managed newer traders, and an overview for how Brynne trades relationships using fundamentals and macro trends. And plenty more.

For many listening, much of this may not necessarily be directly applicable to your own trading, but you’ll get great insight to how things work from the merchant side.

Lessons learned in this interview:

  • Brynne began in the accounting field, but had ambitions of making her way onto a trading desk—she talks about the challenges, and black ‘n white nature of trading.
  • The role of a speculator at BP’s merchant trading group, Brynne’s responsibilities as head of the trading desk, and how deals were made with other merchants.
  • Why it was important for Brynne to teach new traders how to navigate through a crisis, learn their platform (ETRM) intimately, and form their own opinions.
  • On the trading desk; how many traders were able to survive and prosper, generally speaking, and why many short-term traders strived to become long-term traders.
  • An overview for how Brynne trades relationships using macro trends and fundamentals, and how she goes from observation to trade execution.
  • The greatest changes to energy markets over the past 20-years and general advice for amateur traders; realistic expectation, is trading your hobby or business etc.

“You have to decide if you’re trading as a hobby or as an actual business.”

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