Market risk
Winning smiles
The winners of the Energy Risk/Risk Commodity Rankings attenda cocktail reception in London
Gaining from complexity: MFMC models
The Masterclass series continues with a discussion of a general multifactor,multi-commodity model. By John Breslin, Les Clewlow, CalvinKwok and Chris Strickland
Dark markets
New CFTC commodity regulations will close the Enron Loophole withtrading controls of ‘dark market’ trading, reports Daven Voorhies
ICE & GlobalCOAL launch joint coal futures contracts
GlobalCOAL and IntercontinentalExchange (ICE), have joined forces to launch two new coal futures contracts on ICE Futures Europe
Weaker oil prices ahead, says Lehman
A series of “new fundamental factors” have buoyed oil prices in 2008, but various physical and financial indicators suggest weaker prices to come, Lehman Brothers’ senior energy economist said today at a briefing in New York.
Germany's new dawn
For years a liquid, transparent and competitive gas market has failed to appear in Germany. Now there are signs of progress as dominant incumbents, pushed by domestic and international pressure, move slowly towards a market model, writes Roderick Bruce
Picking up the pace
Ceylon Petroleum Corporation, Sri Lanka's state-run oil supplier and refinery, is keen to increase its use of derivatives for hedging. But that's no simple matter for a government-owned company in an emerging market
The big freeze
The US subprime crisis has shown how market illiquidity can affect trading. Yet liquidity risk is a fact of life for commodity firms. William Rhode looks at how to mitigate it
Essent Trading - Scaling barriers
In a frank appraisal of the state of energy trading in Europe, Essent Trading CEO Paymon Aliabadi tells Roderick Bruce about Essent's attempts to overcome the issues that still confront traders, and his vision for an integrated European market
Nymex agrees “definitive” $9.4 billion merger with CME
CME Group, the parent company of the Chicago Mercantile Exchange (CME), is to acquire the New York Mercantile Exchange (Nymex) on terms that remain unchanged from CME’s original offer first put forward in January.
Tullett Prebon acquires Primex
Interdealer broker Tullett Prebon is to acquire petroleum products broker Primex.
JP Morgan to guarantee the trading obligations of Bear Energy
Following JP Morgan’s planned $2 per share acquisition of Bear Stearns after a run on the company ended 85 years of independence for the securities firm, the investment bank has moved to secure the trading obligations of Bear’s subsidiaries, including…
MF Global plunges amid liquidity fears
MF Global, the world's largest broker of exchange-listed futures and options, sought to reassure investors that it had sufficient funds despite seeing its share price fall by 78% following a spate of rumours to the contrary.
Oil falls after record week
Crude oil for April delivery closed down 12 cents to $110.21 a barrel on the New York Mercantile Exchange (Nymex).
Crude Oil surges to $107
The New York Mercantile Exchange (Nymex) benchmark oil contract has exceeded $107 per barrel in midday trading as the value of the US dollar continues to plunge
Crude rally continues as analysts eye $115 oil
West Texas Intermediate (WTI) crude for April delivery surged to over $105/bbl on Thursday as analysts questioned how much longer the rally could continue.
Nymex and LCH.Clearnet form clearing alliance
New York Mercantile Exchange (Nymex) and clearing house LCHClearnet will team up to offer two energy contract slates, one cleared by Nymex ClearPort in New York and the other cleared by LCH in London.
Build it and they will come
The Energy Data Hub, an initiative to improve data distribution andprice transparency in the US gas and power markets, is due to go livenext month, with wide-ranging implications for energy trading, writesSandy Fielden
Copula modelling
Using copulas and Monte Carlo simulations to model price dependencein energy markets, Vincent Grégoire, Christian Genest and MichelGendron show how forecasts for crude oil and natural gas prices can beimproved by modelling the dependence between them
Turbulent times
Recent oil market turbulence has provided a tough test for airlineslooking to hedge their exposure to rising fuel costs as profits headinto a tailspin. David Watkins reports