Exchanges
NYSE Euronext to acquire Powernext Carbon
NYSE Euronext has reached an agreement with French energy exchange Powernext to acquire Powernext Carbon, the company's emission permit division, as part of its plan to set up an international carbon market.
Open outcry fading away as Nymex fends off rivals
New York Mercantile Exchange (Nymex) chairman Richard Schaeffer said today that 80% of the exchange’s business is now done electronically, as the open outcry trading floor becomes “less and less meaningful”. He also outlined ambitious plans for 2008, and…
LCH.Clearnet and Nodal Exchange to launch new trading and clearing service
LCH.Clearnet, the independent clearing house for power clearing, and Nodal Exchange, the first marketplace to use a locational nodal market for forward power trading, have signed an agreement to provide a trading and clearing service for cash settled…
Nord Pool launches German and Dutch power derivatives
Power and emissions exchange Nord Pool will launch power derivatives for the German and Dutch markets from 11 January 2008.
Nymex takes 15% share in Imarex
New York Mercantile Exchange (Nymex) has agreed to acquire 15.1% of Norwegian derivatives exchange Imarex for around $52 million. Nymex will buy the shares from founding Imarex shareholder Frontline, a Bermuda-based crude oil tanker company.
Linked global carbon market could be worth €800 billion
A linked global carbon market between six major regions could be worth €600–800 billion, European Energy Exchange (EEX) chief operating officer Maik Neubauer said today at a press conference
Amaranth denied by court
A New York judge has denied Amaranth Advisors’ request to prevent the Federal Energy Regulatory Commission (Ferc) from pursuing legal action against it while it was being sued by another federal agency.
First Indian power exchange launched
Market technology firm Financial Technologies (FTIL) and Power Trading Corporation (PTC), a public-private partnership aimed at developing India’s power markets, have launched the New Delhi-based Indian Energy Exchange (IEX), the country’s first…
Mixed reception to oversight efforts
Attempts by the US Senate to grant the CFTC greater market oversight have met with a mixed response, writes David Watkins
Weathering the subprime meltdown
While conventional markets have been battered by the subprime crisis, weather market players have enjoyed high returns. Investing in weather derivatives provides insulation from volatile, chaos-prone and unpredictable human decision-making processes,…
Crude price surges past $95
Crude oil futures closed at a new record high Wednesday, driven by U.S. crude inventories dropping to the lowest level in two years and a falling dollar following the Federal Reserve’s rate cut.
Crude oil sets new price record
Crude oil futures closed at a new record high Monday, driven by tight fundamentals, geopolitical tensions and a production setback in Mexico.
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…
ODL brokers record gas oil options deal
ODL Securities brokered the largest ever deal in exchange-traded gas oil options in September.
Mizuho launches alternative investment group
Mizuho International, the London-based international securities arm of Mizuho Financial Group, has launched a new alternative investment group (AIG).
JPMorgan TSS selected as ICE Clear Europe consolidation bank
IntercontinentalExchange (ICE) has appointed JPMorgan Treasury & Securities Services (JPMorgan TSS) as consolidation bank for its European clearing house, ICE Clear Europe.
EEX and Eurex to cooperate in CO2 trading
The European Energy Exchange (EEX) and international derivatives exchange Eurex announced today that they are to offer a common platform for emissions trading.
Bid to close Enron loophole
Legislation aimed at preventing price manipulation and excessive speculation in energy markets has been introduced to the US Senate, writes David Watkins