Our Story
Onyx was founded in 2016 as an oil derivatives trading house. Greg Newman and Omar Kayaam, who previously met while running their own trading desks at another trading firm, left together to start their own company with the vision of taking Onyx to a market leader in a multi-faceted operation.
How it started
Greg and Omar sketch out how Onyx will work
August
Onyx launches its Crude Oil Trading Desk
June
Greg and Omar launch Onyx Commodities Ltd
September
Gasoline and Naphtha Trading Desk launched
June
OCL Revenue £17m, net profit £1m
August
Distillates Trading Desk launched
June
OCL revenue £31m, net profit £4m
September
NGL Trading Desk launched
July
Onyx Capital Advisory Ltd formed
Through embracing their identity as market-makers, Greg and Omar worked to build trading coverage across the barrel and all geographical regions, targeting dominant positions in each product. From there Onyx has leveraged its unrivalled visibility and expertise in the energy-indexed swaps market (otherwise known as oil swaps) into a service offering through the launch of Onyx Capital Advisory in 2018.
January
Onyx Capital Group Ltd formed
August
Onyx Insight launched
June
OCGL revenue 47m, net profit, 12m
September
Fuel Oil Trading Desk re-launched
January
Onyx starts to make headlines
May
Onyx Capital Group wins Newcomer of the Year
July
Traders are rewarded with equity, becoming the first equity partners in Onyx Capital Group Ltd
February
Onyx Brokerage launched as the first interdealer brokerage in oil with an advisory licence
June
OCGL revenue 120m, net profit £52m
December
LNG Trading Desk is launched
May
Onyx Commodities win Market-Maker of the Year
June
OCGL revenue £85m, net profit £26m
July
Luke McDermott becomes an official equity partner in Onyx Capital Group Ltd
May
Flux Financial Ltd formed
June
Onyx 5th year anniversary
October
Onyx launches Flux: our oil market intelligence platform
February
Dubai Trading Desk is launched
September
Iron Ore Trading Desk is launched
December
Henry Monahan and Jasper Bird become official equity partners in Onyx Capital Group Ltd
June
OCGL revenue 160m, net profit £62m
October
Management buyout of founding investor group (92% owned by founders)
December
Onyx Capital APAC Pte Ltd launches in Singapore
June
OCGL revenue 208m, net profit £76m
July
The Onyx C-Suite is formed
October
Power Trading Desk is launched
August
Onyx Commodities Switzerland AG launches
May
Onyx introduces directors
June
Eight years of Onyx Capital Group
Onyx has since become an authority on oil price and flows. Our trading business is the largest market maker by volume in the world. Our service arm is able to offer a full suite of services from broking to consultancy and critically acclaimed research. And our latest innovation - Flux - is a new data visualisation platform designed specifically for the oil swaps market.
