Howard Jenkins

Head of Global Commodity Group


Telephone: +44 20 7716 8598
Email: howard.jenkins@admisi.com

Howard has been involved in the softs markets for rather more years than he cares to remember. His first job in the city was on the London Potato futures market for Lewis & Peat Limited. After this apprenticeship, Howard moved within the group to become a physical coffee trader. This experience enabled him to set up a small commodity company buying coffee and cocoa from across West Africa.

Changing direction slightly, Howard joined ING bank helping set up their newly established derivatives brokerage business. He then joined Fortis Bank as a director of their commodity derivative business. The lure of working for an independent broker saw him move to ADMISI in 2007. He built the sugar business, adding coffee on the way, into one of the most respected and successful brokerage desks in the business.

He became Head of Global Commodity group in 2018 and now oversees the six specialist commodity desks at ADMISI but continues to focus on the sugar business.

Howard has written reports and articles for many years on the softs markets – primarily from a fundamental perspective. He has made numerous presentations at various seminars and conferences. He has occasionally appeared on CNBC and once the main Vietnamese news!

Marc Ostwald

Chief Economist & Global Strategist
(FX, Rates & EM, Asset Allocation)


Telephone: +44 20 7716 8534
Email: marc.ostwald@admisi.com

As our Chief Economist & Global Strategist, Marc spends his time analysing and forecasting the impact of macro / microeconomic trends and examining (and where necessary challenging) market psychology. The processes of globalization, the ensuing credit crisis, rising protectionism and the Covid19 pandemic have and are changing the dynamics of global growth, and accelerate the process of researching and investigating new and developing markets and economies.

Global interconnectivity and dependencies of the financial and non-financial economies has dictated and facilitated the expansion of his analytical coverage from a G7 perspective to encompass most of the developed and developing economies across the globe, adopting at all times a lateral and critical thinking perspective on financial market and real economy trends.

Beyond the more traditional analyses of currency and interest rate markets across the globe, Marc also spends much time focussing on the fluid and often fickle nature of financial market views of economic developments (having originally studied Psychology), whilst also being a keen student of the distortions afforded to markets by positional risk, “de nouveau” capital adequacy and regulatory requirements, central bank policies, reserve manager asset allocations and pension fund regulations.

Having spent much of his childhood in Libya and Iran, Marc also has a particular interest in Middle Eastern culture, current affairs and history. Marc is a regular conference speaker and university guest lecturer, also appearing on CNBC, Bloomberg TV/Radio, BBC, BNN and widely quoted on newswires, newspapers and digital media. (Previously, Marc set up and managed the Frankfurt office of pioneering online market analysis provider MMS, before moving to MMS London to work in product development and training).

Eddie Tofpik

Head of Technical Analysis & Senior Markets Analyst


Telephone: +44 20 7716 8201
Email: eddie.tofpik@admisi.com

In 1980, Eddie Tofpik started from school in the City of London as a Warrants Clerk for LME Metals. He developed his career through Bullion trading, Energy, Agricultural, Softs, Metals Futures and Options then Foreign Exchange, Equity and Fixed Income. By 1990 he had traded or brokered with international clients all of these products and he had expertise enough to have managed trading desks in all of them plus having a temporary secondment to Chicago. In 1991 he joined Esprit Brokers Limited (the precursor to ADMISI) to help develop the FX and LME metals business. He started the 24 Hours Foreign Exchange Desk which he ran for 27 years as Head of FX at ADMISI. In 2018 he was asked to set up and run the Technical Analysis unit of ADMISI and currently serves as Head of Technical Analysis & Senior Markets Analyst.

In 1984 he was introduced by colleagues and friends to Technical Analysis and has been an avid practitioner of the Art ever since. Eddie has been a Member of The Society of Technical Analysts in the UK for about 35 years. He is also a Member of ACI-UK (the FX dealers association) and the Chartered Institute for Securities & Investment. He continues to publish Eddie’s Crayon’s, a series of weekly, daily and special event Technical Analysis Reviews on FX, Stock, Stock Index Futures and Commodity Futures. He is a regular commentator on ADMISI’s YouTube Channel plus others such as the Investing Channel and at online events such as Commodity Trading Week Online, Energy Trading Week Online and Sugaronline’s Sugar Rush. He has also spoken at many international conferences and seminars. In 2018 he was asked to serve as a Director of the Society of Technical Analysts, the oldest and largest Society promoting Technical Analysis in the world. The Society promotes, provides education and exam accreditation in Technical Analysis.

Alan Bush

Senior Financial Economist


Telephone: +1 312 242 7911
Email: alan.bush@admis.com

Alan has been a commodity analyst since 1976, focusing on the fundamental and technical aspects of precious metals, stock index, interest rate and foreign currency markets.  He has authored several articles for Futures magazine and Stocks Futures and Options magazine.  Alan served on the faculty of Oakton College as instructor of a course entitled “Principles of Technical Analysis.”  He has been interviewed on many national television programs, appearing on the Nightly Business Report, CNBC, CNN Moneyline, Reuters Television and Web FN.  In addition, he has been quoted in The Wall Street Journal, USA Today, The Bond Buyer and the Chicago Tribune and has been regularly interviewed on Chicago’s WMAQ radio business reports. Alan is currently the Senior Financial Economist with ADM Investor Services, Inc.

Steve Freed

VP of Grain Research


Telephone: +1 312 242 7000
Email: steve.freed@admis.com

Overseeing the analysis of all market information and trading strategies for over 1100 brokers. He creates daily short and long-term market outlooks, monthly grain PowerPoint presentation updates, daily market outlook video and an electronic statistical manual identifying changes in world supply and demand conditions. Steve’s market opinion is often quoted in newspapers and business journals around the world, and he is regularly a featured speaker at seminars and workshops. 
 
Born and raised on a grain and livestock farm in central Illinois, Steve received a Bachelor of Science degree in Agriculture from Illinois State University. His career began as a crop analyst, then as a grain analyst creating trade recommendations based on international and domestic crop conditions. Before joining ADMIS in 1992, he was with Continental Grain Company and later held the position of Vice President of Futures Research at Dean Witter Reynolds. While there, he sharpened his ability to create trade recommendations based on crop conditions, seasonal trends and changes in cash inputs.
 
Long recognized as an industry expert, today Steve is one of the most respected and followed grain analysts in the nation.

Latest News & Market Commentary