Energy Risk Awards - Categories

The derivatives house of the year is open to all firms taking positions in commodity derivatives markets (e.g. banks, energy firms, commodity trading houses).

Firms entering this awards should be strong across a number of product classes. Submissions should include details of how the firm has best met the needs of their clients and responded to market influences over the past 12-18 months. Pitches should include examples of specific, innovative deals, and can include investment capabilities as well as trading and risk management. There should be an explanation of why the deals stand out against other market activity, what makes them innovative, and what they achieved for the customer and the wider market. Customer references or testimonials are welcomed.

This award is open to energy or commodity firms showing outstanding risk management capabilities. The awards considers the firm’s internal risk management function, and/or the external risk management they offer clients. It will consider the firm’s approach to market, counterparty and liquidity risk as well as other risks such as transition risk.

Submissions should outline risk and capital management processes, policies, and systems, and describe any improvements made to the risk and capital management functions at the firm over the last 12-18 months. Particularly important is how teams have responded to market changes, and ow the risk function has contributed to overall strategy and performance. Ideally, the value of the risk function will be demonstrated in one or more examples, showing how the firm has managed a particular source of exposure, or anticipated or responded to a market move.

The climate risk manager of the year category is open to any energy or commodities firm, bank, or trader that can demonstrate leadership and innovation either in its internal approach to climate risk (monitoring, measuring, modelling, and mitigating its own climate risk) or through work with clients to manage their climate risk. The award considers the firm’s approach to both transition and physical climate risk.

Submissions should include details of how climate risk is approached within the organisation, whether it’s integrated into the risk framework, how it’s measured and modelled, and whether it’s considered as contributing to the company’s overall climate progress. Details on how the firm is measuring and tracking its emissions, the scale of reductions, and the types of targets it’s aligning with will also be key. For example, has it made a net zero pledge, does it have a target under the Science-based Targets initiative, is it aligned with the Paris Accord, etc.

The sustainable finance house of the year is open to banks, large energy firms, and other firms investing in environmentally friendly projects in a way that encourages sustainable practices and considers ESG or other sustainability factors. The award covers direct investment in a green project, green bonds, or green loans, that encourage sustainability and new behaviours that address long-term climate issues.

This category recognises commodity derivatives market participants that work directly with clients and/or through brokers, to make markets and provide liquidity across various commodity markets. 

Market access, volumes traded, response times, ticket sizes, and reliability during periods of market stress will all be considered. Details on hw the firm manages risk will be required. Client references or testimonials are welcomed.

Entrants for this award should be active in the oil and refined products derivatives markets in Europe and/or North America. They may be performing risk management and hedging activities for their own firm, or for clients, and/or providing market liquidity.

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in the oil and refined products markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client, or wider market. Customer testimonials are welcomed.

Entrants for this award should be active in the natural gas and/or LNG derivatives markets in Europe and/or North America. They may be performing risk management and hedging activities for their own firm, or for clients, and/or providing market liquidity.

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in natural gas/LNG markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client, or wider market. Customer testimonials are welcomed.

Entrants for this award will ideally be active in several electricity markets across Europe and/or North America. They may be performing risk management and hedging activities for their own firm or for clients, and/or providing market liquidity,

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in electricity markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client, or wider market. Customer testimonials are welcomed.

Entrants for this award should be active in one or more mandatory emissions trading systems in Europe and/or North America. The entrant should be active in the traded certificates markets - futures, forwards, swaps, options - either for hedging their own obligations or carrying our carbon risk management for clients, and/or providing market liquidity.

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in the mandatory emissions markets. The examples need to make it clear why the company’s trades or work stood out, what was unique and innovative about them, and what they achieved for the firm, client, or potentially for the wider market. Customer testimonials are welcomed.

Entrants for this award should be active in voluntary carbon markets (VCM) that have links to Europe and/or North America. The entrant should be active in the supply, broking, purchasing, or trading of offset certificates.

Submissions should describe the work the firm is conducting in the VCM. The examples need to make it clear why it stands out, what is unique and innovative about it, and what is being achieved for the firm, client, or potentially the wider market. Customer testimonials are welcomed.

Entrants for this award should be active in trading or structuring financial products that improve a firm’s environmental performance, and/or entable a firm to address environmental risk.

Entrants need to demonstrate that their activity spreads beyond emissions markets into areas such as: green bonds, structuring loans that incentivise greener behaviour, financing clean technology, environmental indices, use of environmental and ESG derivatives, renewable energy certificates, PPAs, etc. 

Submissions should include details of deals or other work in environmental products that dhow the entrant outperforming over the past 12-18 months in electricity markets. The examples need to make it clear why the work stood out, what was unique and innovative about it, and what it achieved in terms of environmental impact.

Entrants in this award should be active in the weather derivatives markets, either using them to hedge against weather risk, carrying out risk management for clients, structuring trades, developing new trades, or providing market liquidity. 

Submissions should include details of deals or other work that show the entrant outperforming over the past 12-18 months in the weather derivatives markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client, or potentially the wider market.

Entrants for this award should be active in the financial, and potentially physical, base metals markets in Europe and/or North America. They may be performing risk management and hedging activities for their own firm, or for clients, and/or providing market liquidity. 

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in the base metals markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client or wider market. 

Entrants for this award should be active in the precious metals derivatives markets in Europe and/or North America. They may be performing risk management and hedging activities for their own firm, or for clients, and/or providing market liquidity.

Submissions should include details of deals that show the entrant outperforming over the past 12-18 months in the base metals markets. The examples need to make it clear why the deal stood out, what was unique and innovative about it, and what it achieved for the firm, client, or potentially the wider market. 

This category is open to all firms that offer trade finance to energy or commodity firms, whether it be transactional finance, working capital agreements, or structured trade finance such as tolling agreements, repo, pre-payment, or inventory financing.

Submissions should demonstrate innovation in trade finance, providing examples that show why the firm’s offering stands out against other activity in the market.

The winner of this category needs to demonstrate participation, in a key role, in a wide array of commodity deals over the past 12-18 months. Typically, the deals will involve investment in commodities infrastructure and facilities, or M&A-type investment.

The submission should include several examples or case-studies of innovative deals, showcasing the entrant’s outstanding abilities in deal sourcing, structuring, and/or placement over the past 12-18 months. The examples should demonstrate why each deal stood out, what was unique and innovative about it, and what it achieved for the firm, or client, or potentially for the wider market. They should also showcase why the entrant’s role was key to the deal.

This category is open to all brokers, from the largest interdealers to the smallest boutique brokers. 

Entrants should be able to to demonstrate outperformance in the market segments in which they operate. This could include depth of  market knowledge, speed of matching clients, ability to reach a wide range of market participants, willingness to enter new markets, market share, market access, technology offered, etc.

The commodity exchange of the year should be able to boast a range of achievements - from volume growth, to product or geographic expansion. Risk management and resilience will be key considerations.

Submissions should include details of successful product launches and technology initiatives during the last year.

This is an award for bank research units or independent research houses.

Submissions should focus on the quality, uniqueness, and usefulness of the research, as well as talking about how the research is conducted (data gathering, modelling, analytics used, etc.) and how it is distributed to customers. Examples of research should be cited in the entry, along with a focus on how the research is used by clients, and an assessment of its impact.

The climate risk advisory firm of the year award is aimed at consultancies and specialists that provide information, practical help, and hands-on guidance to firms on how to assess, manager, and mitigate transition and/or physical climate risk. This could include developing and providing climate models, or other approaches and techniques, to measure and monitor climate risk, helping firms comply with environmental legislation and also enabling them to meet any environmental targets and goals they have, such as alignment with the Paris Accord, net zero pledges, science-based targets, etc.

Submissions should include examples of how the entrant has helped firms in the past 12-18 months to assess and manage their climate risk and then to address it, either through carbon abatement or hedging with environmental products.

The hedging advisory firm of the year award is aimed at consultancies and specialist advisory firms that provide independent advice to commodity derivatives users.

Submissions need to demonstrate a spread of capabilities, from work on hedging programmes, to deal pricing and structuring, portfolio valuations, or restructuring. They should provide several examples of how the firm has helped its clients during the past 12-18 months.

The technology advisory firm of the year award is aimed at firms that specialise in commodity trading and risk management systems selection and implementation.

Submissions should include real examples of technology advisory work done with clients over the past 12-18 months, explaining what the impact has been. While the main focus will be on CTRM software, other technologies that aid risk function can also be discussed. Firms should talk about what they brought to each project and how they do things differently to other firms.

The CTRM software house of the year award is open to software vendors that develop and sell core CTRM software systems to firms that trade and hedge commodities. This award acknowledges achievement, innovation, and performance in this space over the past 12 months.

Submissions should include details of new products, updates and improvements, new clients, and repeat business.

The technology firm or product of the year award is open to commodity specialist software developers, but also banks and commodity firms that have carried out outstanding work in the field of technology over the past 12 months. The category moves beyond CTRM software to consider, for example, enterprise software, logistics, operations and scheduling software, freight software, as well as analytics, algorithms and model development, and the use of newer technologies such as blockchain, artificial intelligence, machine learning, neural networking, etc.

This category is open to data and analytics specialists that offer an array of commodity data sets and sources to traders as well as providing sophisticated analytics and analytics tools.

Submissions should include details of the impact of the offering on clients.

This category encompasses all OTC derivatives platforms (e.g. single-dealer, multi-dealer, MTFs, OTFs, etc.)

Submissions should highlight success in a range of ways: increased volumes, product, or geographical scope, adaptation to regulatory change, popular or creative trading protocols or order types, reliable technology, etc.

The entrant for this award needs to have played a key role in the deal, which could be infrastructure investment, a M&A deal, the provision of trade finance, a hedge, structured notes or indices, or the creation of an investment vehicle.

Submissions should focus on just one deal, giving a high level of detail such as the structure of the deal, tenor, size, timeline, etc., and should provide explanation of why the entrant’s role was key. It should demonstrate why the deal stood out, what was unique and innovative about it, and what it achieved for the client, and potentially for the wider market.

The innovation award celebrates creativity and innovation and is open to any firm operating in or serving the commodity trading and risk management industry. The entry should be for a single new product, service, technology, or risk practice, rather than the firm in general.

Submissions should explain what the innovation is, why it is creative and ground-breaking, and what it achieves for the firm, its clients, or the wider marketplace. The winners may also be selected from pitches in other categories.

The newcomer of the year award is open to any firm operating in, or serving, the commodity trading and risk management industry that has launched, or entered a new geography or commodity market, during the past three years.

Submissions should explain what the company, product, or service does, why it was set up, and what it has achieved so far.

This award is open to any firm in Europe or North America that produces electricity from renewable sources such as solar, wind, wave, or tidal.

Submissions should include details of the business, the markets operated in, and the challenges and risks faced. The entry needs to make it clear what the firm achieved, for itself and/or its clients, and what was unique and innovative about its approach and performance.

Entrants for this award should be active in one or more sustainable fuels markets, e.g. biofuels, biogas, e-fuels, etc. Entrants may be producers, suppliers, traders, consumers, investors or financiers in Europe and/or North America.

Submissions should include details of the particular business being entered for the award, along with some background on the technology and its place in the wider energy market. The submission should make it clear why the award entrant firm or business decided to enter this market, and what it has achieved over the past 12-18 months.