One Munich house — brokering physical flow and committing its own balance sheet, from origination to settlement, across every cycle.





We open direct lines into physical commodity markets — producers, traders and end users — and run each mandate from first contact to settled delivery. Every transaction is handled with your terms, your timing and your discretion in mind.
We commit our own balance sheet alongside the trade when it counts, so you face the market with a principal beside you — not a broker passing risk along.
Every step — from sourcing and structuring to documentation and settlement — reflects a discipline built over years. Counterparties, terms and logistics are checked and re-checked, so nothing moves before it is sound.
From Munich we reach every market that matters and stay close to each one. Our people manage the full arc of a transaction, so the flow moves cleanly and the outcome is exactly as agreed.




A house structured for principal risk: own balance sheet behind the trade, conservative leverage, and a settlement discipline tuned for volatile physical markets. Built to stay in the market through every part of the cycle, not just the easy quarters.
From Munich we work the physical markets directly — sourcing, matching and settling flow for producers, traders and end users, and backing the trade with our own balance sheet where it counts.

From Munich we work the physical markets directly — sourcing, matching and settling flow for producers, traders and end users, and backing the trade with our own balance sheet where it counts.
The Americas desk. We run the Atlantic session — energy and metals moving into and out of the US, and the financing relationships that move them. When New York opens, the book is already working.

The European book. Precious metals, FX and structured trade finance, settled to London-market standards — the bridge between producer and end-user across EMEA.

The Asia-Pacific physical desk. Energy and agricultural flow across the basin, matched on volume, terms and logistics so material moves cleanly through the region’s ports.

The North Asia counterparty desk. Access to Chinese and North-Asian demand, with conservative settlement discipline for the region’s most volatile physical markets.






Each mandate reflects years of relationships, discipline and trust. From physical brokerage to direct positions held through the cycle — BK Capital brings discretion, precision and its own balance sheet to every transaction.