Clearing
The aftershocks of Einar Aas
Energy could be particularly badly affected by the €114m default of Nasdaq power trader Einar Aas
Q&A: Giancarlo stresses importance of international relations
EU regulatory inexperience causes problems for CFTC chairman
Q&A: CFTC’s Quintenz weighs swap dealer threshold impact
Activity-based threshold could be ‘disincentivising’ dealers, says commissioner
European energy clearing stalls amid conflicting rules
Energy trading volumes continue to rise in 2016
EEX futures contract triggers margining spat
Rivals criticise use of lower margins in marketing push
Energy firms urge EC to ease Emir clearing rules
Industry groups are using the European Commission’s review of Emir to push for changes to rules for calculating their exposure to clearing thresholds – tweaks that could make a big difference in whether commodity firms are saddled with the dreaded ‘NFC+’…
Stricter EU collateral rules threaten Nordic power market
Tighter EU collateral standards set to come into force in March 2016 may hurt liquidity in Nordic electricity derivatives, market participants say
Metals traders shun clearing due to Emir, says LME chief
Emir's introduction of segregated clearing accounts is pushing firms towards trading OTC, says LME head Garry Jones
Utility firms struggle to fend off Emir clearing
Europe’s largest utilities are concerned at the prospect of having to clear all their over-the-counter derivatives trades under the European Market Infrastructure Regulation (Emir). But although there are options for avoiding clearing under Emir, whether…
Financial entity definition worries US utilities
US utilities fret their trading units could be classified as financial entities under Dodd-Frank, forcing them to clear all their OTC derivatives and face other regulatory requirements
Utilities face pressure to clear OTC derivatives
Utilities are trying to avoid OTC derivatives clearing under Emir, but industry observers say bank capital requirements and rules on non-cleared derivatives may yet force them to clear their trades
Panel bemoans impact of EU regulation on energy market
Worries about the impact of EU financial rules, such as Emir and Mifid II, are highlighted among a panel of compliance experts at Energy Risk Summit Europe
Energy companies divided on approach to Emir clearing
European utilities are concerned about breaching Emir thresholds requiring firms to clear their OTC derivatives trades, while oil majors are resigned to the idea
Energy Risk Asia CCP of the Year: Singapore Exchange
Singapore Exchange is trying to ease the regulatory burden on both Asian and non-Asian traders by ensuring they can continue to transact where and how they want
Trading OTC may be costlier than you think
Debate continues to rage about the merits of clearing, with some market observers arguing that the benefits of using central counterparties are outweighed by the precipitous costs involved. But such criticisms fail to take the full burden of over-the…
Asia Broker of the Year: BNP Paribas Commodity Futures
Strong links with trade finance group mean brokerage clients have access to impressive variety of services
Energy firms find Emir thresholds too close for comfort
The European Market Infrastructure Regulation will force non-financial counterparties to clear trades in over-the-counter derivatives once they reach a set of notional thresholds. And despite their original expectations, many energy companies could be…
Lack of critical mass in biomass
Growth in the use of biomass has led clearing houses to list derivatives referencing the organic fuel source, while some experimentation has also taken place within the over-the-counter markets. But these efforts are yet to yield substantial success. Jay…
Energy Risk Europe: EC official questions energy industry estimates of clearing costs
Recent industry estimates of the cost of clearing are met with scepticism during a roundtable discussion at Energy Risk Europe
Energy Risk USA: End-user exception to clearing impractical experts warn
The Commodity Futures Trading Commission’s proposed rule on the end-user exception to clearing is unworkable for many energy firms that use swaps for hedging say market experts