Onyx was co-founded in 2016 by Omar Kayaam and Greg Newman. After their success building and trading their own market-making desks at Mandara Capital, they left to start their own company with a view to capitalise on the rapidly evolving oil derivatives market.
Seven years later – Onyx is the largest liquidity provider in oil derivatives, trading over 25 billion paper barrels a year and maintaining an average of 20% market share within oil swaps.
So – how did they do it?