News
Oil hedging losses hit SemGroup
Tulsa, Oklahoma-based midstream oil company SemGroup has filed for bankruptcy following a $2.4 billon loss on its hedging program on the New York Mercantile Exchange (Nymex).
CME makes final improved offer for Nymex
CME Group has improved its takeover offer for New York Mercantile Exchange (Nymex) by $113 million.
CBOE launches crude oil volatility index
Chicago Board Options Exchange (CBOE) has launched the CBOE Crude Oil Volatility Index (OVX).
Borsa Italiana to launch power derivatives
Milan-based Borsa Italiana has signed an agreement with Italian power market regulator Gestore del Mercato Elettrico (GME) for commercial use of the national single price for electricity (prezzo unico nazionale – PUN).
ICE cool about further regulation
ICE Futures chairman Bob Reid said today he was “relaxed” about the CFTC regulation of ICE Futures Europe.
ICE and NGX expand physical natural gas clearing
IntercontinentalExchange (ICE) and Calgary-based Natural Gas Exchange (NGX) are to provide deal entry capability to energy brokers for physically cleared OTC natural gas contracts.
Indianapolis hedges against escalating fuel prices
A fuel hedge and savings programme has netted the US city of Indianapolis over $39,000 during the month of June, according to a press release from the Mayor’s office.
Commodities reshuffle at Morgan Stanley as Shapiro retires
Investment bank Morgan Stanley has reshuffled its commodity department, with head of commodities John Shapiro retiring.
Singapore announces commodities exchange
Trading technology company Financial Technologies Group is to launch a Singapore-based commodities exchange, it has announced.
Jet fuel futures contract takes off at MCX
Mumbai, India-based Multi-Commodities Exchange (MCX) has begun trading jet fuel futures contracts to help Indian airlines and refineries hedge against rising crude oil prices.
Triple Point acquires ROME
Risk management software provider Triple Point has acquired credit risk management provider ROME.
T Boone launches wind power plan
Texas oilman T Boone Pickens has launched a plan to address the United States’ dependence on foreign oil by aiming to generate at least 20% of the nation’s energy supply through wind power.
Barclays Capital launches US power index
Barclays Capital, the investment banking division of Barclays Bank PLC, has launched the first US national benchmark index for power prices.
Pivot accesses over-the-counter market
Pivot Instant Markets is an improved version of Pivot 360 which offers over-the-counter (OTC) traders faster and more efficient methods for trading.
GFI introduces Nymex CAPP
Inter-dealer broker GFI has introduced a Nymex look-alike Central Appalachian (CAPP) coal contract that can be cleared via Nymex Clearport.
Texas power spikes set tone for summer
Recent surges in US wholesale power prices are driving debate as to whether current spark spreads are large enough to encourage new build. David Watkins reports
Early trade slow at Canada's carbon exchange
The first Canadian carbon emissions exchange has opened for trading, but may struggle to find traction amid regulatory uncertainty, finds Katie Holliday