Foreign exchange
Triple Point launches Commodity XL for Biofuels and Commodity XL Xchange
Triple Point Technology, a supplier of software platforms for the supply, trading, marketing and movement of commodities, has released Commodity XL for Biofuels. The platform is intended to address the rapidly escalating global market for renewable…
Full steam ahead for FFAs
The freight derivatives market has attracted an influx of new players recently thanks to the spread of clearing. With more banks and hedge funds poised to enter, Roderick Bruce looks at what opportunities the market offers and how it needs to develop next
Up in the air
Rising wind power prices are encouraging US producers to turn to the short-term and spot electricity markets. Increasingly sophisticated risk management techniques may follow. David Watkins reports
Analysts question WTI/Brent spread
The spread between West Texas Intermediate (WTI) and ICE Brent has narrowed significantly, hitting $0.95 this week from a high of $7.34 in mid-May.
Iberdrola and Endesa hold first power auction
Utilities Iberdrola and Endesa have held Spain’s first power auction, awarding a total volume of 1.45 terawatt hours (TWh). This auction represents the fruits of efforts by the two Spanish utilities to develop a competitive Spanish power market and…
Amaranth trades “altered natural gas prices.”
Energy hedge fund Amaranth Advisors exploited legal loopholes and altered natural gas prices through “excessive speculation” before its 2006 implosion, a US senate investigation has found.
FOA launches UK power market initiative
The Futures and Options Association (FOA) has launched an initiative that aims to introduce a new design for wholesale UK power markets.
Ethanol in “hangover mode” as sector looks to restructure
The unbridled optimism which spurred the ethanol markets in 2006 has been replaced by fears over the sustainability of some corn-based projects, according analysts speaking at this week’s Renewable Energy Finance Forum in New York.
GlobalView to offer SSY tanker data
Tanker data from shipbroker Simpson, Spence & Young (SSY) will become available through data management provider GlobalView’s MarketView solution.
LME to launch steel futures in 2008, DGCX steel launch delayed
The London Metal Exchange (LME) will commence futures trading in steel billet in April 2008. There will be two separate regional contracts, defined by the LME as for the Near East and Far East respectively
Macquarie and Nomura form commodity alliance
Macquarie Bank and Nomura Securities, a Japanese securities and investment banking company, have agreed to establish a business alliance in commodity derivatives, which will provide commodity derivative and commodity-based investor products to customers…
JPMorgan to expand commodity trading presence
JPMorgan plans to increase its global commodity trading staff by more than 30% within 12 months.
Nymex to join ConfirmHub
Nymex Holdings has executed a letter of intent to join other market players in support of the ConfirmHub standard, which allows energy traders and back offices to receive their Nymex brokered and bilateral over-the-counter cleared trades, as well as…
CCFE launches clean energy index
The Chicago Climate Futures Exchange (CCFE), a wholly-owned subsidiary of Chicago Climate Exchange (CCX), announced today that it will launch a futures contract based on WilderHill Clean Energy Index (ECO) on July 13.
ETG Capital opens energy hedge fund
Houston-based hedge fund firm ETG Capital Management has launched an energy fund.
EDF Trading builds its natural gas business in Spain
EDF Trading, the subsidiary of French utility EDF, responsible for wholesale energy market activity, has been granted a licence to trade physical natural gas in Spain and plans to start delivery of physical gas to market counterparties later this year.
More cooperation likely in oil industry
The long term challenge to access and develop new oil reserves is likely to foster greater cooperation between the international majors and some national oil companies, says a report on the sector by Moody's Investors Service, a credit ratings agency.
Statoil selects Financial Objects’ energy credit risk solution
Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go…
Bush lays out climate agenda – without emissions trading
In a speech in Washington ahead of the G8 meeting in Germany next week, US President George Bush laid out an agenda for tackling climate change.