Onyx Opens New York Office and Hires Sheil in Latest Expansion

Onyx Capital Group, the energy and commodities market maker, has opened an office in New York and hired a veteran to lead it as part of its continued expansion.

The firm hired Billy Sheil, who has two decades of experience in futures market making, it said in a statement. Sheil, who previously traded at Axiom Markets LLC, will be president of Onyx Americas.

Commodity market making has boomed in recent years, with a handful of providers like Onyx hiring traders and opening up new offices across the globe. Its a fiercely competitive business that has led to lawsuits to ...