Ex–Goldman and DRW Trader on Trading Before Algorithms Took Over

John Knorring, former Managing Director at Goldman Sachs and current CEO of Green Tiger Markets, discusses the evolution of commodity trading and the emerging energy markets. Knorring contrasts the early days of physical trading pits with today's algorithmic landscape, noting the reduced human element and increased data reliance. He recounts experiences at Goldman Sachs, including navigating Hurricane Katrina's impact on natural gas markets and managing Lehman Brothers' natural gas option book during the 2008 financial crisis. Transitioning to Green Tiger Markets, Knorring aims to establish price transparency and liquidity in the Philippines' electricity market, highlighting its growth potential and unique challenges, such as the need for client education and the top-down business culture. He emphasizes the importance of forward markets in enabling investment and stabilizing electricity prices.