Market risk
Delta hedging the load-serving deal
In this article Andrew Klingler takes a closer look at the residual risk when a load-serving contract is hedged with forwards. The residual risk components are described quantitatively and a formula for the minimum variance hedge is outlined
Obstacles - Growing pains
Eastern European power markets have experienced rapid growth since liberalisation at the start of this decade, but there are still many obstacles impeding the market's development, finds James Ockenden
Citigroup rebuilds Asia commodities team
Citigroup has made several recent hires to its Asia commodities team in Singapore, mostly on the energy side. The US bank has been looking to add to the division since the departure to Merrill Lynch in April 2005 of commodities head Mark Long and most of…
Jaime Roman, risk managing director, Endesa, Spain
Jaime Roman is chief financial officer and risk managing director at Spanish utility Endesa. Holding a PhD in Electrical Engineering, he was in academia before being approached to join Endesa in 1997
Forward thinking for backwardation
In certain settings it's reasonable to assume that the current futures price embodies the market expectations of the spot price. However, as Gary Dorris, Sean Burrows and Vena Kostroun explain, there are distinct situations when this assumption does not…
Valid Assumptions Required: Volatility
Brett Humphreys reviews the assumptions associated with calculating volatility based on historical data.
Brazil switches on to risk management
As Brazil's electricity market restructures, increasingly sophisticated risk management tools and systems are required, writes Leigh Parkinson
Jane McCarthy, manager of portfolio risk management BHP Billiton
Jane McCarthy is manager of portfolio risk management at BHP Billiton. She is responsible for quantitative portfolio modelling and risk analysis, including regular reporting to the board and financial risk management committee
David Davies, chief financial officer, OMV
David Davies has been the chief financial officer at Austrian oil and gas group OMV since April 2002. A trained chartered accountant, Davies has held senior financial roles in companies that span a variety of industry sectors, including chemicals,…
Vladislav Soloviov, chief financial officer, RUSAL
Born in 1973, Vladislav Soloviov, is the chief financial officer at Russian aluminium giant RUSAL. Before joining RUSAL he held key roles in The Russian Federation's Ministry of Taxes and Dues
Gary King
Gary King, chief executive of the Dubai Mercantile Exchange, talks to Stella Farrington about his hopes for energy trading in the Middle East
TFS to broker oil in Dubai
TFS has become the first interdealer broker to open a desk in Dubai, where it will initially cover precious metals, but also plans to broker oil, freight and financial instruments.
GlobalView adds TFS, ICAP, CBOT to data offerings
Chicago-based data management company GlobalView has increased its data offerings to include data from brokerage Tradition Financial Services (TFS), an increased offering from ICAP, and futures data from the Chicago Board of Trade (CBOT).
TFS sets up dry freight brokerage
Interdealer brokerTradition Financial Services (TFS) has announced the creation of TFS Freight, a dry freight brokerage group based in Stamford, Connecticut.
DME on track for Q4 launch
The DME reveals the details of its first sour crude contract, while construction work begins on its trading floor