The program behind Ocean Capital
Altmann_Appenzell_CH
Take The Points.
Commodity returns are made in the physical world: harvests and inventories, energy flows, freight and weather. They move on their own clock, which is why commodities have historically shown low correlation to stocks, bonds and practically every other asset class.
Few portfolios hold them. For an investor, the practical way in is the futures market, and futures reward specialisation. Ocean TTP is our answer: a single systematic program, trading commodity futures since 2005.
The edge is structural. Commercial producers and consumers hedge real exposure, know supply and delivery better than the rest of the market, and leave a readable footprint in the spreads between delivery months. Ocean TTP trades that footprint with complete consistency. Hence the name: TTP is Take The Points, the discipline of collecting modest, repeatable advantages rather than betting on forecasts.
Five layers, one path to every trade.
Every position has passed through the same five layers, in the same order. Nothing reaches the market any other way.
- 01
Market data
The program reads daily prices across thirty futures markets in five sectors, along the whole curve rather than only the front month. Most of the information sits in the spreads between delivery months.
- 02
Strategy
Two engines interpret the data, each with half the capital. Dolphin trades long-term spreads, following the steady moves of normal markets. Marlin trades counter-trend, against overextension when markets turn stressed. The program does not depend on a single kind of market.
- 03
Risk control
Before a signal becomes a position, it passes six controls, from volatility based sizing to a hard ceiling per market. The controls are part of the program itself, not a committee that meets after the fact.
- 04
Signals
The rules generate every entry and every exit, with no forecasts and no overrides. The same conditions produce the same order, live exactly as in the backtest. That consistency is what makes the record meaningful.
- 05
Execution
Every order is reviewed and placed by a person; nothing trades unattended. The role is deliberately narrow: verify, execute, reconcile. Our judgement goes into running the program faithfully, not into second guessing it.
The heart of the program.
We believe a systematic program rests on two things: a sound theory and strict risk control. Ocean TTP is built on both, and has been since 2005. The theory finds the points; the controls make sure we stay in the market to take them.
Volatility Adjustments
Position sizing scales inversely with realised market volatility, keeping portfolio risk steady across regimes.
Position Ceiling
Hard limits cap exposure to any single market, preventing concentration in one position.
Diversification
Risk is spread across thirty commodity markets in five sectors, chosen for their low correlation to one another.
Low Margin
Aggregate margin to equity is held below 10%, preserving a substantial liquidity buffer.
Exposure Adjustment
Net and gross exposure are continuously rebalanced as signals and correlations shift.
Covered Options Writing
Options are written only against existing positions, harvesting premium on exposure the fund already holds.
Thirty markets, one program.
A single rules-based program is applied identically across every market, from precious metals to grains and energy. Diversification comes from the markets themselves, not from changing the method.
