Market risk
Amaranth report to ring changes
Release of report into collapse of energy hedge fund Amaranth Advisors looks set to change the way OTC markets operate in the US
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
Cross purposes
Cross-commodity trading, once the preserve of the large banks, isbecoming a more widespread practice throughout the energy tradingspace. Nathan Amery explores the phenomenon
Profit and loss explained
Profit and loss explained analysis and reporting has become arequired tool for the middle and front office. Brian Shydlo investigates
Energy Risk in Asia
Last month risk management professionals from all over the Asia-Pacific region gathered in Singapore for the inaugural Energy Risk Asia conference. Oliver Holtaway reports on some of the highlights
The net widens
Grid computing is ubiquitous in investment banking, yet until now the energy trading and risk management space has been slow on the uptake. This looks set to change, reports David Watkins
Steve McMillan
Steve McMillan, a pioneer and veteran of the derivatives business and the new chief executive of Imex, tells Roderick Bruce about the personal and career challenges presented by his new role
Drought damage down under
The current drought in Australia has driven power prices to recordhighs. Early-June storms brought increased volatility and makinghedging even trickier for all market participation. Joe Marsh 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.
Spectron trades first OTC REC option
Energy broker Spectron has brokered the first over-the-counter option on US renewable energy credits (RECs)
Mixed motives as ICE buys Canadian exchange
IntercontinentalExchange (ICE), the electronic energy and soft commodity bourse, has entered into an agreement to purchase Winnipeg Commodity Exchange (WCE), Canada’s main agricultural commodity futures and options exchange and home to the world’s…
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.
RBS rumours rise on Sempra sale speculation
Sempra Energy is reportedly in talks with the Royal Bank of Scotland (RBS) regarding the potential sale of its commodities arm, Sempra Commodities.
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.