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Onyx Capital Group has opened a new office in New York and appointed Billy Sheil as president of Onyx Americas. Sheil, who has two decades of experience in futures market making and previously worked at Axiom Markets LLC, will lead the new office.

This expansion reflects the growth of the commodity market making sector, which has seen increased competition and profitability. Onyx CEO Greg Newman stated that the firm is now operational in all three major time zones. The energy sector is also experiencing a surge, with significant investment driven by the anticipated demand for energy from new data centers, projected to require an additional 94 gigawatts by 2030.