Risk management
LCH Clearnet launches OTC clearing for UK gas and power
London-based clearing house LCH Clearnet today launched its new clearing service for over-the-counter (OTC) contracts for UK national balancing point natural gas and UK peak and baseload power contracts.
ABN continues BNP raid
ABN Amro has hired five senior energy derivatives executives, two of whom join from BNP Paribas. The move comes just three months after the Dutch bank poached Wayne Harburn and Vincent Chevance from French rival BNP. The pair now serve as global head of…
User Choice winners revealed
Energy Risk's first User Choice Awards have been a tremendous success, with over 450 valid votes showing which vendors and data providers are the preferred suppliers to the energy industry in 2004.
RWE Trading names Senior replacement
Brian Senior, Swindon-based managing director and head of UK energy at RWE Trading, will step down at the end of the year, and Peter Kreuzberg, head of risk management at parent company RWE, will replace him.
All systems go
More than 450 of you voted and voiced your concerns in Energy Risk’s inaugural User Choice Awards. Below we show which suppliers you voted for as top of their field in the energy business this year
Viva lost vegas
Brett Humphreys discusses the problems of calculating true value-at-risk on aconcentrated options portfolio – in particular, the various pitfalls thatcan befall a risk manager in ignoring vega risk – and considers ways ofhandling these issues
A decent exposure
Most energy companies have a portfolio of over-the-counter energy derivativesthat could have significant credit exposures. In this paper, RafaelMendible examines the credit exposure of these derivatives, its relationto volatility,and its relation to…
Building load links
In the third article in this series, Les Clewlow , ChrisStrickland and MichaelBooth show how the Monte Carlo techniques used in previous articles can accuratelyhighlight the crucial relationship between price and load – a complex correlationaffecting the…
BNZ enters energy trading
The Bank of New Zealand (BNZ) has launched an energy risk management desk. The plan is to target the bank’s corporate client base who need hedging solutions for their energy, base metals and agricultural commodities exposures, said Wayne Jolly, BNZ’s…
Top energy software vendors to be revealed
Energy traders have just one day left to vote in the biggest ever poll of energy technology users, the Energy Risk User Choice Awards 2004.
CME appoints lead market maker for fertiliser futures
Chicago Mercantile Exchange (CME ) yesterday said that Agriliance will be the lead market maker for the exchange’s new fertiliser contracts traded on Globex, the exchange’s electronic trading platform. Minnesota-based Agriliance markets crop nutrients,…
Industrials lack price risk skills, says risk advisor
Outsourcing of price risk management will be a major growth area over the next few years, as industrial companies lack the skills required to manage their commodity risk, according to Chris Bowden, chief executive of price risk services firm Utilyx.
Technology upload
There has been a recent upswing in the fortunes of energy risk software industry. And that is reflected in this year’s expanded technology vendor guide, making it the definitive guide to energy software and technology available
The troubleshooter
After struggling for a year with a difficult Triple Point installation, US energycompany Cinergy brought in energy IT veteran Joel McKnight. Nine months on, implementationand integration is complete. By Joe Marsh
Simulating Excellence
Of the numerous risk management problems that can be solved with a computer,there are few that cannot be solved using Microsoft Excel. BrettHumphreys discusseshow it can be used to construct Monte Carlo simulations
King of convenience
The need for Sarbanes-Oxley certification has boosted sales of internet servicerisk systems, says web pioneer Martin Chavez of Kiodex. By James Ockenden
Bucking the trend
Openlink’s founder Coleman Fung talks to James Ockenden about the decisionsthat have promoted his company to one of the leading risk management solutionproviders
Montréal Exchange and Oxen to offer energy clearing
The Canadian Derivatives Clearing Corporation (CDCC) - a wholly owned subsidiary of the Montréal Exchange (MX) - and the Alberta Watt Exchange, an Alberta-based energy exchange wholly owned by digital commodity exchange operator Oxen, are to provide…
Getting physical
Abstract: Asset-backed trading strategies usually employ a combination of physicalpositions, which are subject to physical risk; and financial hedging intruments,which are not. Here, Steve Leppard shows how value-at-risk, applied to this combinedrisk…
Banking on energy
Banks keen to establish an energy trading presence are finding that partneringwith energy companies, or even acquiring trading businesses outright, could bethe way forward. Paul Lyon reports
The liquidity makers
Hedge funds are bringing liquidity to the structured end of commodity markets,and some – such as Citadel – are even trading in physical energyproducts. This can only make energy markets more efficient, finds James Ockenden
ABN to offer centralised power and gas clearing platform
Dutch bank ABN Amro today said it’s energy futures division is developing a platform to provide centralised over-the-counter (OTC) clearing for natural gas and power contracts at six European energy exchanges – UKPX, EEX, Endex, Powernext, IPE and…