Physical delivery
Commodities may be a sweet spot for blockchain
Some aspects of commodity markets make them a natural fit for distributed ledger technology
Senators turn up the heat on physical commodities
A key US Senate subcommittee has put the spotlight on banks’ involvement in physical commodities, raising pressure on the Federal Reserve to impose tough restrictions
Mifid II commodities impact to hinge on trading venues
The evolving definition of an organised trading facility under Mifid II is worrying commodity market participants due to its critical role in determining whether certain energy trades fall under financial rules
US energy firms welcome CFTC tweaks to Dodd-Frank rules
Long-awaited move to address ‘seventh prong’ problem seen as positive step by industry groups
CFTC's Wetjen urges fix to commodity options problem
CFTC commissioner says seven-part test on definition of a swap under Dodd-Frank "was not specific enough or clear enough" for industry participants
Classic cutting edge: Swing options and the quest for valuation
Energy Risk presents a classic paper on swing options pricing by Patrick Jaillet, Ehud Ronn and Stathis Tompaidis, which was first published in 1998. It introduced the so-called binomial forest method, which was influential in the development of pricing…
Dodd-Frank commodity option rules sow confusion among energy firms
Confusion over CFTC rules is tying US energy firms in knots, as they struggle to determine whether their physically settled commodity options need to comply with critical rules issued under the US Dodd-Frank Act. Alexander Osipovich reports
Barclays enters supply-and-offtake deal with US refinery
Barclays clinches deal with Hawaii refinery as US Federal Reserve scrutinises physical commodity trading by banks
Asia Oil & Natural Gas House of the Year: Citi
Citi has worked hard to rebuild its oil business and is one of very few banks that remain active in physical LNG
Commodity trading houses face questions over systemic risk
The rapid growth of commodity trading houses has led critics to question whether these firms have become a source of systemic risk. But trading houses strongly reject such arguments, and suggest they are little more than paper tigers. Alexander Osipovich…
US energy firms cheer CFTC decisions on ‘swap’ definition, end-user exception
The US energy industry scores a victory as the Commodity Futures Trading Commission finalises two key pieces of Dodd-Frank derivatives regulation, modifying its original proposals to ease the compliance burden on firms that operate in physical energy…
CFTC regulators favour extending Dodd-Frank comment period
CFTC cost and timing concerns continue; FTRs and commodity forwards exempted from swaps definition
CFTC presses on with position limits proposal
Concerns remain over position limits for commodity traders under Dodd-Frank Act as CFTC issues plan for public comment
Chilton to support comments on position limits
Commissioner supports publishing position limits proposals for public comment; continues to call for interim position "points" system to collect data
CFTC mulls position limits rule, delays vote
US regulator fails to vote on position limits proposal; questions raised about data availability
World Cup victory will trigger commodity infrastructure improvements in Russia, say analysts
The decision to host the 2018 World Cup in Russia will boost much-needed infrastructure investment and lower operational risk for the steel industry, say analysts
Optimising and hedging power generation assets
The head of risk at Spanish utility company Endesa speaks to Lianna Brinded about the co-ordination of optimisation and hedging of power generation assets.
Upturn predicted for physical energy trading
Trade flow likely to move to physical markets due to new derivatives rules, experts say
Video: Southern Company's risk manager on regulation
Chris Schlegel, risk manager at the US’s largest utility, Southern Company, speaks to Lianna Brinded about risk management concerns following impending regulatory changes
Regulators must distinguish physical and financial energy transactions, says risk manager
Financial risk manager from the US’s largest utility, Southern Company, says regulators should make sure they make a distinction between physical and financial transactions before setting US regulatory changes in stone
Energy firms demand more clarity on Dodd-Frank reforms
Energy companies say key definitions in recently adopted US financial legislation are too broad or need clarifying, and call for additional 'trader' classification