Risk management
Energy Risk Deals of the Year 2012: BarCap's VPP deal with Chesapeake
Barclays Capital pioneers new volumetric payment deal with Chesapeake that allows more investors to take part
Icap Energy acquires European biofuels broker
Icap Energy announce acquisition of biofuels broker Sun Commodities
Analysing common processes used to model energy prices
Choosing the appropriate process for modelling energy prices is essential for best calculating value, risk and hedging metrics for energy derivatives and assets. In this first article of a six-part series, Carlos Blanco and Michael Pierce discuss some…
Profile: BNP Paribas’s José Cogolludo
Moving into commodities from corporate finance was perhaps an unusual move 17 years ago, but as BNP Paribas’s José Cogolludo tells Gillian Carr, it was a pivotal point in his career
How relevant is VAR for energy markets?
Despite its many limitations, value-at-risk (VAR) is still the most commonly used risk profile measuring tool in the energy industry. In this first article in a new series, Chris Strickland discusses why the energy industry’s love affair with VAR could…
Refiners seek innovative tools for risk management
Battered by tight margins and volatile oil markets, refiners are exploring a range of innovative tools to contain costs and improve risk management. Alexander Osipovich reports
Commodities correlation with equities, bonds - how long will it last?
Correlations between commodities and other asset classes have risen sharply over the past three years, but investors and academics are divided over the cause, and the outlook for diversification strategies going forward. David Wigan reports
Trading positions: March 2012
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Seeking opportunities in coal trading
Coal prices are expected to have better support this year than last, but trading opportunities will lie in relative-value strategies, say market experts. Jay Maroo reports
Cutting edge: Valuation of spread commodity structures
In this paper, Dan Mahoney and Krzysztof Wolyniec show that in co-integrated (mean-reverting) futures markets, active dynamic hedging is required to realise the quadratic variation of the underlying spread process. Using static hedges/portfolios yields…
Doubts raised over US Department of Energy CRO proposal
An independent consultant hired by the White House to assess the US Department of Energy’s loan programmes in the wake of the Solyndra bankruptcy has advised the agency to hire a corporate-style chief risk officer and beef up its risk-management…
Risk & Energy Risk – 2012 Commodity Rankings – energy
After a rollercoaster year in the markets, Morgan Stanley seized the top spot in the 2012 Risk and Energy Risk Commodity Rankings, while its traditional rival, Goldman Sachs, slipped to number two. Alexander Osipovich reports. With additional reporting…
Risk & Energy Risk Commodity Rankings 2012 - metals
In an environment of uncertainty for both prices and regulations, Société Générale Corporate & Investment Banking retains pole position in base metals, while UBS takes first place in precious metals. By Peter Madigan
Energy trading system provider Brady acquires Navita, Syseca
Technology provider Brady will be expanding its presence in energy trading and risk management technology through the purchase of Navita Systems and Syseca
Q&A – Ice Futures Europe’s David Peniket and Mike Davis
In the second part of Energy Risk’s series on the future for the exchange-traded energy markets, Ice Futures Europe’s David Peniket and Mike Davis talk to Pauline McCallion about the likely direction of the market in 2012 and beyond
Credit rating agencies: what are the alternatives for energy markets?
Repeated stumbles by the credit rating agencies have led risk managers to explore new ways of assessing counterparties. Alexander Osipovich examines the alternatives
Trading positions - people moves in energy risk management
Energy Risk catches up with the latest appointments, promotions and departures in global commodity markets
Managing geopolitical risk in energy markets
The increasing influence of geopolitical risk on energy markets is forcing risk managers to reassess their risk management strategies around such event-type risk, finds Gillian Carr
Whitehead replaces Neviaski at SG CIB
New global head of commodities at Société Générale Corporate & Investment Banking (SG CIB)
Asian energy corporates remain bullish in 2012: survey
Despite an uncertain global backdrop, energy companies in Asia retain a positive outlook for 2012, finds a survey commissioned by Standard Chartered Bank
Algorithmic trading in energy markets
Algorithmic traders are now a significant presence in energy markets. Alexander Osipovich explores how they’re changing the game for human traders
High-frequency trading spreads across energy markets
High-frequency trading (HFT) is playing an ever-larger role in energy markets, but is it really suited to the nuanced deal sheets of commodities? Stephen Maloney considers this and asks whether HFT is in fact quietly tilting the table to favour those…