Egor ZhilnikovFX · Commodities · Treasury
Book a call
Independent advisory · Dubai

Currency and commodity risk, priced — not guessed.

Hedging and execution for commodity-linked businesses.

Request an exposure review Past work
Operating profit, 12 months
USD m
Unhedged Hedged 85%
At risk, unhedged
−7.2
At risk, hedged
−1.1
Profit protected
+6.1

Illustration.

7+years on FX and commodity desks
50+commodity cases via GLG
$5bn+assets under one risk framework
5specialists on the team
LSElectures on financial markets
In numbers

What price and currency do to your P&L.

Indicative figures.

−11.7m
Profit at risk, unhedged
On USD 105m combined exposure
+10.0m
Profit protected once hedged
Same book, 85% hedged
+30–80 bp
Recovered on execution
Spread given away to one counterparty
Coverage

Any pair. Any barrel. Any venue.

Majors and benchmarks are the easy part.

Energy

Flat price, cracks, differentials

BrentWTIMurbanGasoilJetFuel oilNaphthaTTF

Metals

LME base and precious

CopperAluminiumZincNickelLeadGoldSilver

Agri & softs

Basis and quality risk

WheatCornSoySunflower oilSugarCoffeeUrea

G10

Tight spreads, deep forwards

EURGBPJPYCHFCADAUDNZDSEKNOK

Commodity-linked currencies

Hedged together with the commodity

NOKCADAUDZARBRLCLPMXN

Asia, Gulf & Africa

Onshore, offshore and NDF

CNYCNHINRSGDAEDSARTRYEGP

Execution access

Through established broker and bank relationships.

CMEICELMESGXDMEEurex EBSLSEG MatchingBloomberg FXGO360T OTC swaps & physical brokers
Process

Four steps, in order.

01

Map

One exposure number.

02

Policy

Ratios, limits, sign-off.

03

Execute

Benchmarked live.

04

Report

One page, monthly.

Selected work

Names withheld. Numbers are real.

GLG · US clients · commodities
Expert consulting, commodity sector

US funds and corporates.

50+engagements delivered
Dubai · 2025—
Multi-entity commodity group

Built from scratch.

$5bn+under one framework
Dubai · 2023—2025
Global energy major

Systematic programme.

+15%P&L y/y
Vienna · 2021—2023
Research & diligence

Team of five.

$500m+transactions supported
Ongoing
Execution oversight

Live quote benchmarking.

+30–80 bpspread recovered
Mandates

Three ways to start.

3–4 weeks

Exposure review

Mapped, quantified, benchmarked.

Board-ready report
Ongoing

Hedging programme

Policy to reporting.

Policy and reporting
Per transaction

Execution oversight

Live, on the call.

Execution log

Terms agreed after the first call.

The team

Five specialists, not one consultant.

Five specialists.

Risk & analyticsExposure models, VaR
ExecutionBenchmarking, venues
ReportingMonthly packs
Teaching · LSELectures on financial markets
Background
  • NowHead of commodity and FX trading.
  • DesksCiti · Raiffeisen · Shell
  • TeachingLectures at LSE.
  • CentresNew York · Vienna · Dubai
  • ToolkitForwards, futures, options, VaR.
  • CredentialsCFA Level 3 · MIT · LSE · IFRS
  • LanguagesEnglish · Russian
Notes

Explained twice, so written down.

2026 · 04

What a “zero-fee” forward actually costs
2026 · 03

Futures hedge the flat price, not your basis
2026 · 02

Margin calls: the hedge that breaks the cash flow
Beyond hedging

What else we can assist our clients with.

A hedge rarely stands alone.

01

Brokerage

Exchange and OTC liquidity.

Account opening · clearing · execution
02

Bridge financing

Funding against cargo and receivables.

Pre-payment · inventory · receivables
03

Physical commodity trading

Sourcing, offtake, back-to-back.

Energy · metals · agri
04

Counterparty & trade documentation

Checked before signature.

ISDA · CSA · LC wording
05

Freight & logistics risk

Priced alongside the cargo.

FFA · bunkers · demurrage
06

Treasury & market intelligence

Cash, banks and a weekly read.

Cash planning · bank panel
Next step

Thirty minutes. You leave with a number.

Send these three things:

Book a 30-minute call
zhilnikovegor@gmail.com +971 58 577 1327 WhatsApp LinkedIn Dubai · GMT+4

Confidential. NDA before figures.

Call WhatsApp