Options & Futures Trading
Strategies across the world's commodity markets: energy, metals and agriculture.
Commodity options · London · Est. 2005
A private partnership built on conviction in physical commodities.
Since 2005 we have done one thing: options on energy, metals and agricultural commodities. We serve qualified investors, family offices and institutions from London, Chicago, Singapore and Dubai.
AI Trading SessionsMarkets we cover
- Energy
- Brent, WTI, natural gas
- Metals
- Gold, silver, copper
- Agriculture
- Corn, wheat
Options on each, from London, Chicago, Singapore and Dubai.
- HQ · 2005London--:--
- Americas · 2012Chicago--:--
- Asia-Pacific · 2016Singapore--:--
- Middle East · 2023Dubai--:--
Our history
Since 2005. One discipline.
“We set out to build a house that would still be standing in fifty years – not a fund that would be remembered for a single trade.”
Invictus Heritage was founded in the City of London in 2005 by Alaric M. Vance, Cecilia Marchetti and Julian R. Thorne. They shared one conviction: that the world's commodity markets – energy, metals and agriculture – are too important, and too cyclical, to be left to generalists.
The firm has grown deliberately, never quickly. London remains the headquarters; Chicago, Singapore and Dubai followed, giving the partnership coverage of every major commodity venue and trading hour.
Through the 2008 financial crisis, the energy collapse of 2014, the pandemic of 2020, the shock of 2022 and the turn in interest rates in 2024, the firm has stayed partner-owned, single-strategy and independent.
- 2005Est. London
- 4Offices
- 6Partners
- 20+Markets
- 5Crises navigated
- IntactFounding partnership
One discipline. Four ways to work with it.
All seven servicesPortfolio Management
Tailored exposure to precious metals, energy and other real assets.
Market Intelligence
Daily and weekly research, built on macro and technical analysis.
Institutional Advisory
Hedging programmes, risk solutions and custom derivatives for corporate and institutional clients.
AI Trading Sessions
Your strategy. Your limits. AI-assisted execution.
A defined-mandate session: you set the strategy, allocation and hard risk limits; the AI executes within them.
Session mandateSet by client
- StrategyApproach, instruments, horizonYou define
- Allocation & riskSession cap, position cap, daily loss thresholdHard limits
- Activity & controlsFills, exposure, P&L · pause or revokeReal time
Capital is at risk. The AI works only within the limits you set; it does not guarantee results or prevent loss.
Why Invictus Heritage
A specialist, not a generalist
Commodity options are our only discipline, not a sleeve inside a larger fund. Every partner-hour goes to this market.
Our capital alongside yours
The founding partners invest their own money alongside clients, on identical terms.
Tested through cycles
More than twenty years of supercycles, financial crises and geopolitical shocks. Heritage is earned in difficult markets.
Global coverage
London, Chicago, Singapore and Dubai cover every major commodity venue and trading hour.
How we look after you
One relationship
One adviser who knows your goals and stays your point of contact for as long as you are with us.
Real assets
Gold, energy and agriculture: assets that have preserved wealth across generations.
Risk before return
Every position has defined limits, so you know your exposure before any capital is committed.
Absolute discretion
Your portfolio, your circumstances and your identity stay confidential at every stage.
The partnership
Six partners. One discipline. More than twenty years of shared stewardship.
- AV
Alaric M. Vance
Founding Partner · Chairman
- CM
Cecilia Marchetti
Founding Partner
- JT
Julian R. Thorne
Founding Partner · CIO Energy
- EB
Edmund H. Beauclerc
Partner · COO
- LO
Lin Okafor
Partner · Singapore
- RA
Reza Amari
Partner · Dubai & ME
“Invictus Heritage brought a level of discipline and expertise to our energy portfolio that we simply couldn't find elsewhere. Their understanding of commodity options is unmatched in the market.”
Individual client experience. Past performance does not guarantee future results.
Common questions
How do I invest in commodities?
There are several routes: futures, commodity funds, shares in producers or options. We specialise only in options, which let you define your risk before you trade.
What is a commodity option?
The right, but not the obligation, to buy (a call) or sell (a put) a set amount of a commodity at an agreed price, on or before a set date. Options are used to hedge, to diversify and to act on a clear market view.
Do I need prior experience?
Our services are for qualified investors. Experience helps, but your adviser will make sure you understand every instrument and its risks before you invest.
What is option leverage?
An option controls more of a commodity than the capital it costs. That magnifies gains and losses alike, which is why every position we take starts with its risk limit.
Why options rather than futures?
Options can be built for rising, falling or steady markets, and when you buy an option, the most you can lose is known on the day you buy it. A futures position has no such limit.
A global house
Four offices, each anchored in the trading hours of its region.
London
Global headquarters
- Address
- 22 Bishopsgate
- london@invictus-heritage.com
Energy, metals and firm-wide oversight.
Chicago
Americas trading hub
- Address
- 800 South Wells
- chicago@invictus-heritage.com
Agriculture and US energy benchmarks.
Singapore
Asia-Pacific centre
- Address
- 101 Central Boulevard Towers
- seasia@invictus-heritage.com
LNG, base metals and Asian benchmarks.
Dubai
Middle East office
- Address
- By appointment
- arabworld@invictus-heritage.com
Gulf energy and sovereign relationships.
Begin a conversation.
We welcome enquiries from qualified investors, family offices and institutions. Every enquiry is answered within 24 hours on business days.
Call
1-800-699-9424Hours
Monday to Friday, 9:00–17:00 (US Eastern Time). Appointments on request.
Capital deserves a steward, not a salesman.