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Risk management

The cruellest month

The impacts stemming from volatility in natural gas futures contract spreads – in particular the effects of seasonality on the March-April spread – have been seen in the recent dramatic losses by major hedge funds. Daven Voorhies explores some of the…

Lessons learnt

This year was one of unprecedented volatility for energy markets, yet it also marked a step-change in market maturity. Energy Risk asked some key players what they see as the defining events of 2006 and how they will affect behaviour in 2007. By Stella…

El Paso expands 2007 hedge program

El Paso Corporation, one of North America’s largest independent natural gas producers, has announced that it has restructured and expanded the hedge program that supports its natural gas production for 2007.

GFI joins ConfirmHub

ConfirmHub has announced the addition of GFI to its group of broker members, which already includes Amerex, ICAP and Tullett Prebon. New York-based GFI is a leading inter-dealer broker that specialises in over-the-counter derivatives.

Future imperfect

Hedging physical deals with derivatives may be active risk management, but if the physical contract is breached, it can result in unnecessary losses. Andrew Meads looks at whether the innocent party can recover these losses

Trading opinions

Energy risk professionals from all over Europe gathered in London last month at the Energy Risk Europe conference to debate the hottest topics facing the industry today. The Energy Risk team bring you some highlights

CME, CBOT to merge

The Chicago Mercantile Exchange is to merge with the Chicago Board of Trade in a move the exchanges say is “expected to transform global derivatives markets.”

Surveying risk management

How is risk management viewed in your company? Are there risks you would like to measure but don''t? Which methodologies are most commonly used? What should the discipline tackle next? Our latest survey reveals all

Antoine Halff

Antoine Halff talks to Oliver Holtaway about the pivotal role that political risk should be playing in energy risk analysis

Using options theory for commodity spreads

Market risk for a real option asset can be effectively managed using a spread option model. Raymond Cheng and Walt Tyrrell demonstrate the enhanced risk-adjusted performance of optional refinery capacity with a historical back test

Risk management for LDCs

US Gas Distribution Companies, long experienced in managing volumetric risk, now face market risk, high commodity prices and credit risk. Matthew Frye looks at strategies to model these risks in aggregate

Hedge fund technologies

Energy markets continue to attract hedge funds - but, as recent high profile losses have shown, operating in them is challenging. Having the right trading and risk management IT is essential. Stewart Eisenhart reports

Risking it in Russia

When attempting to assess energy risk in Russia today, traditional methods of risk analysis are no longer sufficient; they mustbe accompanied by detailed political risk analysis, writes Robert Amsterdam

Accurate options pricing for all

SuperDerivatives has entered the energy world with big aims - to bring transparency and increased liquidity to options markets. Oliver Holtaway looks at the company model, and asks how big a splash it's likely to make

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