Risk management
Hedge fund Millennium expands in energy trading
Other hires at Noble Group, JP Morgan and Mercuria
To assess liquidity risk, one must ask the right questions
A mathematician’s insight during World War II can help guide risk managers today
Quant Ideas: market-making, risk and information in commodities
Persistent low liquidity in commodity markets is the result of the fundamental interaction of high volatility and noisy data sets. This fact has profound implications for the theory and practice of risk management in commodity markets
Energy Risk Commodity Rankings 2016: Rise of the non-banks
Non-banks such as BP and Axpo Trading make a strong showing in Energy Risk’s latest Commodity Rankings, but Societe Generale takes the top spot again as best overall dealer
Energy Risk Awards 2016 – voting has now closed
Awards recognise excellence across global commodities markets
ETRM systems emerge as the cockpit for business
In an increasingly complex marketplace, energy trading and risk management (ETRM) systems have become the flight deck from which firms pilot their entire business activity, says Sidhartha Dash, research director at Chartis Research
Why traders ignore risks and go full speed ahead
Incentives often drive excessive risk-taking, while caution is punished, Vincent Kaminski argues
Few commodity traders saw improved liquidity in 2015 – poll
Three-quarters of traders surveyed say liquidity in OTC commmodity derivatives held steady or declined last year, while 25% saw gains
Staying agile and fit for purpose in commodity financial systems
Commodity houses are searching for more sophisticated ways of enhancing their risk management systems. Instead of tearing down the old order, or duplicating systems across services, Amine Chbani, head of commodities business development at Murex,…
Position limits are an idea whose time has passed – Giancarlo
Low commodity prices dent rationale for US and EU anti-speculation rules, CFTC commissioner says
Vote now in the Energy Risk Software Survey & Rankings
Make sure your vote is counted in Energy Risk's annual ETRM software rankings
Building and protecting the IT architecture of the future
Rapid advances in technology have brought about new challenges in the fields of cybersecurity, compliance and regulation. Peter Morrison, Strategy and Architecture, BP (Singapore), explains why large businesses should consider hiring an IT architect, and…
Commodity premia: It’s all about risk control
Luc Dumontier and Guillaume Garchery of La Française Investment Solutions present the main commodity risk premia, ways to implement them and pitfalls to avoid
Oil rout sharpens energy companies' focus on credit risk
With defaults in the energy industry at their highest level in 15 years, firms are increasingly nervous about the credit standing of their peers. That has put pressure on credit teams to improve their counterparty assessments
Embattled commodity trader Noble Group loses CFO
Mercuria hires two Goldman managing directors; GDF Suez Trading hires ex-Citi oil traders; Cargill CRO set to retire; ex-Scotiabank trader resurfaces at Canadian oil firm
US spoofing crackdown is a case of misplaced priorities
In the world of high-frequency trading, there are worse practices than spoofing, but only spoofers are being sent to prison
CFTC spoofing crackdown poses compliance challenges
In the wake of the first criminal conviction in a spoofing case, US commodity traders and lawyers are concerned that the vagueness of the CFTC's rule is having a chilling effect on market participants
Bank exits from commodity trading hurt US power firms
US power companies are facing worse liquidity, increased hedging costs and a tougher time managing certain kinds of risks as a result of the exodus of banks from commodities trading
In manipulation cases, "everybody's doing it" is no excuse
From the natural gas index scandal of the early 2000s to the Libor-rigging cases of today, it's always the junior employees who go to jail while bosses walk, Vincent Kaminski observes
Vote now in the Energy Risk Commodity Rankings
Voting is open in the 2016 Energy Risk Commodity Rankings, which rank the top dealers and brokers in the global commodity derivatives market
Energy Risk Asia Awards and conference 2015
The Energy Risk Asia conference, now in its eighth year, hosted more than 200 senior delegates. This was followed by a gala dinner for the Energy Risk Asia Awards, which reward excellence across the region’s commodity markets
Modelling the financial risks of wind generation with Weibull
This paper discusses the manner in which wind generation can affect the half-hourly APX price and also the risk distributions associated with various power contracts. Wind generation is modelled using correlated doubly truncated Weibull distributions,…
Nasdaq grows energy sales team with ex-Goldman hire
Barclays adds energy trader in Singapore; Scotiabank loses senior energy trader; ex-BNP Paribas trader joins consultancy ARM; Noble hires Trafigura oil trader; Koch expands in power and renewables; Castleton hires Mercuria trio