Credit risk
Consultancy of the year: PwC
PwC commodity trading and risk practice doubles in past 18 months
Dislocations highlight risks of commodity ETNs
Notes face scrutiny after problems with Barclays’ OIL and GAZ products
US banks face questions over bad oil loans
Resilience of hard-hit regional lenders scrutinised as losses mount
OTC trading will live on, SG’s top US commodity trader says
Corporates still need banks for complex, structured deals, says Koppel
EU capital rules for energy traders not as bad as feared – PwC
Commodity trading firms can slash Mifid II capital charges by 40% through optimisation of derivatives portfolios and application of new Basel rules, report finds
Ex-Goldman oil trading head seeks to serve 'the little guy'
Ben Freeman, founder and CEO of HudsonField, sees opportunities for non-bank firms in energy lending
Oil rout sharpens energy companies' focus on credit risk
With defaults in the energy industry at their highest level in 15 years, firms are increasingly nervous about the credit standing of their peers. That has put pressure on credit teams to improve their counterparty assessments
Embattled commodity trader Noble Group loses CFO
Mercuria hires two Goldman managing directors; GDF Suez Trading hires ex-Citi oil traders; Cargill CRO set to retire; ex-Scotiabank trader resurfaces at Canadian oil firm
Asia commodity finance house of the year: SG CIB
Despite turbulent commodity markets, Societe Generale Corporate & Investment Banking establishes new reserve-based lending team in Singapore as part of long-term plan to boost its presence in Asia
Asia oil dealer of the year: BNP Paribas
BNP Paribas has helped Asian producers and consumers to cope with the dramatic moves in oil markets in the past 18 months
Index investing paper shows gap between theory and reality
The theories of commodity index investment gurus Gary Gorton and K Geert Rouwenhorst have little in common with the experience of real-world investors
Commodity end-users fret over shrinking number of FCMs
Futures brokers attack costly new rules at a CFTC meeting on September 22
Liquidity biggest worry for RWE Supply & Trading CRO
The varied career of Uwe Schulz, CRO of RWE Supply & Trading, has led him to appreciate the dangers of liquidity risk – something that is particularly relevant in today’s energy market environment
Commodity index advocates stick to their guns
Ten years after publishing an influential paper that fuelled the commodity investment boom, Yale professors Gary Gorton and K Geert Rouwenhorst have revisited their study and found their arguments still "largely hold up". But critics are quick to disagree
Infrastructure funds focus on de-risking energy investments
As energy companies face a tough time gaining access to capital, a growing number of them have found relief from infrastructure funds and other investors keen to snap up low-risk, low-yielding assets. Three such investors outline their approach
Video: Jean-Marc Bonnefous, Tellurian Capital Management
Bonnefous defends investment in commodities amid market turbulence
Barclays hires two senior energy traders
UK bank reaffirms its presence in commodities with hires from Credit Suisse and Mercuria
Economists, like hedge fund traders, need open minds
Failing to spot an emerging crisis may be forgivable, but not learning its lessons and failing to recognise its root causes are far more serious errors. A rapidly changing world needs economists, risk managers and traders with open minds, argues energy…
Noble Group defends off-balance sheet inventory deals
Noble is justified in keeping optional inventory sales off-balance sheet, even though the firm repurchases these inventories “the vast majority” of the time, says chief executive Yusuf Alireza
Noble Group challenged over mark-to-market accounting
A mysterious organisation called Iceberg Research has accused Noble Group of inflating the mark-to-market values of long-dated commodity trades. The Hong Kong-based trading firm is fighting back, but can't seem to put the controversy to rest
Energy finance house of the year: SG CIB
The French bank has executed innovative deals involving a broad range of commodities, countries and projects
Deal of the year: Citi
Citi acquired at least a dozen commodity books from rival dealers in 2014
Price reporting veteran set to leave Platts
Goldman makes top-level changes; APX CEO to step down; Citi hires JP Morgan risk head; Calpine hires Goldman’s Griggs; Neas adds in power and gas
Applied risk management series: Counterparty risk exposure metrics
The use of static counterparty exposure metrics, which provide an incomplete view of the risk of individual deals and portfolios, may lead risk managers to take decisions with unintended consequences. Carlos Blanco outlines a better approach using…