Energy transition
Commodity hedge funds hope for rebound after 2015 rout
As ranks of commodity funds thin, survivors say investor interest is starting to pick up
Hedge fund Millennium expands in energy trading
Other hires at Noble Group, JP Morgan and Mercuria
Florida utilities’ $6bn hedging loss spurs public backlash
Firms face heat over out-of-the-money natural gas hedge transactions
Energy Risk Commodity Rankings 2016: Rise of the non-banks
Non-banks such as BP and Axpo Trading make a strong showing in Energy Risk’s latest Commodity Rankings, but Societe Generale takes the top spot again as best overall dealer
Energy Risk Awards 2016 – voting has now closed
Awards recognise excellence across global commodities markets
How ‘Death Star’ and AIG sparked a new era in regulation
Ferc and the CFTC have overlearned the lessons of past crises, and energy traders are paying the price
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
ETRM systems emerge as the cockpit for business
In an increasingly complex marketplace, energy trading and risk management (ETRM) systems have become the flight deck from which firms pilot their entire business activity, says Sidhartha Dash, research director at Chartis Research
Enron’s California schemes haunt regulators 15 years later
The failures of the first liberalised US power market still shape the Federal Energy Regulatory Commission’s anti-manipulation agenda. But has the pendulum swung too far towards enforcement?
Few commodity traders saw improved liquidity in 2015 – poll
Three-quarters of traders surveyed say liquidity in OTC commmodity derivatives held steady or declined last year, while 25% saw gains
Position limits are an idea whose time has passed – Giancarlo
Low commodity prices dent rationale for US and EU anti-speculation rules, CFTC commissioner says
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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
Commodity premia: It’s all about risk control
Luc Dumontier and Guillaume Garchery of La Française Investment Solutions present the main commodity risk premia, ways to implement them and pitfalls to avoid
Web of EU commodity rules too complex, conference told
Mifid II, Emir, Remit and other new regimes covering EU commodity markets are not well co-ordinated, according to regulators and market participants at this year’s Emart
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
Texas utility finds Dodd-Frank a source of frustration
For publicly owned Austin Energy, adapting the new US regulatory environment following the passage of the Dodd-Frank Act has been a bumpy ride
Bank exits from commodity trading hurt US power firms
US power companies are facing worse liquidity, increased hedging costs and a tougher time managing certain kinds of risks as a result of the exodus of banks from commodities trading
Q&A: French regulator defends Mifid II commodity rules
Mifid II has sparked an outcry from EU energy firms, which complain the new rules will force them to curtail hedging or even exit the markets altogether. But Vincent Derbali, an official with France's AMF and a member of Esma's commodity derivatives task…
In manipulation cases, "everybody's doing it" is no excuse
From the natural gas index scandal of the early 2000s to the Libor-rigging cases of today, it's always the junior employees who go to jail while bosses walk, Vincent Kaminski observes
Epex Spot CEO pushes to unite Europe's power markets
Exchange mergers will drive efficiency gains and foster the integration of European energy markets, says Jean-François Conil-Lacoste
Canadian energy firms anxious over trade reporting proposals
With oil-rich Alberta and four other provinces set to finalise a joint rule on trade reporting by year-end, Canadian energy firms are hoping that regulators resolve troublesome issues with the definition of a ‘dealer' and the handling of trades with US…
Obsession with competition isn't healthy for exchanges
Market operators spend too much time chasing their competitors and launching ‘me too' products when they need to be concentrating on the needs of their customers, the European Energy Exchange's Steffen Köhler argues