Enterprise risk
Climate change is the fattest tail risk of them all
Casting doubt on science is an unwise risk management strategy, Vincent Kaminski argues
Energy Risk Commodity Rankings 2016 photos
The winners of Energy Risk’s Commodity Rankings were honoured at London’s Le Meridian Piccadilly hotel in February
Energy Risk Software Rankings 2016
OpenLink voted best overall ETRM platform in annual survey of favourite vendors, implementation specialists, data providers and data managers
Seeking a systemic role
By overhauling old practices and creating a dynamic new culture, Banca IMI hopes to place itself at the centre of the energy trading system. Stefano Rivellini, global head of commodity sales, explains how, by investing heavily in the physical energy…
Axpo continues to build out US trading business
Other moves at BNP Paribas, Castleton, Elliott Management and Koch
EC sides with big energy companies in Mifid II spat
European Commission urges Esma to restore ‘capital employed’ test, citing concerns that asset-heavy energy companies and industrials may be caught in new regulations
OTC trading will live on, SG’s top US commodity trader says
Corporates still need banks for complex, structured deals, says Koppel
Hedge fund Millennium expands in energy trading
Other hires at Noble Group, JP Morgan and Mercuria
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
New EU market abuse rules worry energy traders
Ban on insider trading in commodities seen as “very tricky”
Energy industry blasts ‘unusable’ CFTC commodity swap data
Vast variety of contracts, lack of coordination by SDRs led to reporting debacle
To assess liquidity risk, one must ask the right questions
A mathematician’s insight during World War II can help guide risk managers today
Mifid II one-year delay not enough to solve problems, energy industry says
The anticipated one-year delay to January 2018 of implementation of the Mifid II rules still leaves energy firms little time to respond to the regime, given the number of key rules still not finalised
Quant Ideas: market-making, risk and information in commodities
Persistent low liquidity in commodity markets is the result of the fundamental interaction of high volatility and noisy data sets. This fact has profound implications for the theory and practice of risk management in commodity markets
Goldman names new head of US power trading
Other commodities moves at BTG Pactual, EDF Trading, Javelin and Munich Re
CFTC takes steps to clean up ‘garbage’ swaps data
Attempts to further standardise swaps in new data reporting proposals are a source of frustration for market participants
Energy Risk Awards 2016 – voting has now closed
Awards recognise excellence across global commodities markets
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
EU commodity derivatives regulation: 2016 and beyond
Market participants await key deadlines and decisions in the year ahead
Why traders ignore risks and go full speed ahead
Incentives often drive excessive risk-taking, while caution is punished, Vincent Kaminski argues
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+’…
CFTC de minimis report worries US energy firms
Use of “alternate indicators” for dealing activity raises alarm bells in industry