HOTLINE: Who is trading in the 25th hour?

“There are only 25 hours in the day; make sure you use the last one wisely!” Marc Rich would tell employees – one of many stories that emerged after the legendary trader passed away late last month.

“There are only 25 hours in the day; make sure you use the last one wisely!” Marc Rich would tell employees – one of many stories that emerged after the legendary trader passed away late last month.

It was not just a pithy sound bite.

The current crop of Glencore traders have taken those words to heart, led by ceo and former Marc Rich inner circle member Ivan Glasenberg, who told reporters earlier this year that there is no such thing as a work/life balance at his company.

“We work. You don’t come here to take life easy,” he said.

While there are not literally 25 hours in a day, there are more work days in a year than some commodities traders spend in the office.

Everyone needs a break (though it is fair to note that many buyers and sellers appear to welcome a call about the latest moves in the market after they have spent a couple of days on the beach), and especially at this time of year.

Not so Glencore traders, apparently.

While Metal Bulletin reporters are used to having their calls answered by machines at this time of year while their contacts are off on holiday, there is one company whose employees are seemingly always on the other end of the phone.

“This is the 25th hour,” Hotline mused the first time somebody actually answered his call.

On the other end of the phone – surprise surprise – was someone in a trading room in Switzerland.

editorial@metalbulletin.com

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