Exchanges
Ex-SemGroup CEO denies trading strategy caused bankruptcy
Former SemGroup chief Tom Kivisto has criticized a court report that stated his speculative oil trading drove the company to bankruptcy.
Morgan Stanley named in FCStone saga
Morgan Stanley has revealed its role in the disposal of a loss-making energy trading account by FCStone in March 2009.
ICE launches 20 OTC cleared oil contracts
IntercontinentalExchange (ICE) has introduced 20 new cleared OTC oil contracts, which will be available for clearing from May 18, 2009.
LME steel trading hits 1.5 million tonnes
The London Metal Exchange (LME) has traded more than 1.5 million tonnes of steel in its first year, outperforming the first year of aluminium trade in 1978 by 49%, according to figures from the exchange.
First cleared iron ore swap on Singapore Exchange
Singapore Exchange (SGX) will launch the world's first cleared iron ore OTC swap contract on April 27 th .
First agricultural swap on CME Clearport
Starsupply Renewables, a biofuels and agricultural commodities brokerage, has successfully brokered the first ever cleared swap for an agricultural product using CME ClearPort.
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.
Russian revolution?
The news that TNK-BP will sell oil products on the St. Petersburg International Mercantile Exchange could signal a shift by Russia towards market mechanisms, Roderick Bruce reports
Constellation completes sale of trading units
Constellation Energy this week completed the divestiture of its Houston-Based downstream natural gas and international coal and freight business units.
Shanghai steel futures begin trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said.
CME launches OTC grain swaps through ClearPort
The Commodity Futures Trading Commission (CFTC) has given regulatory approval for the CME to clear corn basis swaps and calendar swaps for corn, wheat and soybeans.
Commodities on Bclear from March 30
Exchange NYSE Liffe will offer clearing for a range of soft and agricultural commodity products on its over-the-counter (OTC) trade confirmation, administration and clearing platform Bclear on March 30. Bclear was launched in 2005 and currently offers…
FCStone disposes of loss-making energy account
FCStone Group, an integrated commodity risk management firm, expects losses of $110m from an unnamed customer's energy trading account, which it disposed of this week.
US government to consider cap-and-trade legislation this year
Imminent draft climate change legislation could include a federal cap-and-trade scheme for CO2 emissions, but questions remain regarding market regulation, finds Pauline McCallion
Is it all over for over-the-counter?
Bills proposed in the US Congress to limit the influence of speculators and boost transparency could significantly alter the OTC commodity trading landscape. Roderick Bruce reports
Agora-X launches OTC platform for energy and metals
Agora-X, an electronic trading platform, has launched a new platform for the negotiation, execution and clearing of over-the-counter (OTC) trades in energy and metal contracts.
ICE offers margin offsets on coal and emissions contracts
ICE Futures Europe has introduced margin offsets between its Coal Futures and Emissions contracts.
Global carbon trading to grow by 20% in 2009
The global carbon market will see a 20% boost in volume in 2009, according to the latest figures from Point Carbon.
JI finally accredits first third party verifier
The Kyoto Protocol's Joint Implementation (JI) mechanism has accredited its first third party verifier, TÜV SÜD Industrie Service, almost ten years after the UN-backed carbon offsetting mechanism was first agreed upon.
Icap clears first ag swap through ICE
Interdealer broker Icap has executed the first ever cleared agricultural swap transaction through IntercontinentalExchange clearing house ICE Clear US. Regulatory approval for such transactions was granted by the CFTC in December last year.
Deutsche Bank joins DME as clearing member
The Dubai Mercantile Exchange's membership committee has today approved Deutsche Bank as the 22nd clearing member of the exchange.