Market risk
Energy markets need more than second-hand credit models
In the energy markets, models transplanted from financial markets often fall down when it comes to credit risk. This occurs for a variety of reasons, not least because energy markets are prone to seismic institutional and technological shifts, argues…
Energy Risk unveils lifetime achievement award winners
Energy Risk has named the winners of its 20th Anniversary Lifetime Achievement Awards – a special one-off prize recognising 20 individuals who have contributed to the development of commodity trading and risk management
Bertuccio leaves JP Morgan for Glencore Xstrata
JP Morgan oil origination veteran Michael Bertuccio has been appointed as head of origination and principal investments at Glencore Xstrata
Energy Risk 20th Anniversary Lifetime Achievement Awards
To mark 20 years since its launch in 1994, Energy Risk is honouring 20 individuals who have made a tangible contribution to the development of commodity trading and risk management
Moody's forecasts surprisingly stable UK power prices
Analysts at Moody's Investors Service believe UK electricity prices will remain steady until 2020, a prediction at odds with market consensus and government forecasts
Energy Risk Awards 2014: Houston and London photos
The annual Energy Risk awards celebrate success across the commodity and energy markets, with a particular focus on client service. This year’s winners were honoured at gala dinners held in Houston and London during May and June, respectively
Energy trading firms may rue the decline of quants
Quant finance transformed energy markets, but has been met with a lack of enthusiasm and investment since the financial crisis. That is a shame, say industry veterans, who point to a number of areas that could benefit from a renewed focus on quantitative…
UK electricity market likely to be hit by CMA probe
A shake-up of the UK power market is viewed as one likely outcome from a competition investigation into the country’s energy sector, but observers say the probe is being overshadowed by forthcoming regulatory reform
EC's Ristori worries about energy security post-Ukraine
The EC's director-general for energy expresses fears about Europe's continued reliance on Russia for energy imports amid the crisis in Ukraine, in an exclusive interview with Energy Risk
Silver dealers weigh up benchmark alternatives
Amid increased scrutiny of financial benchmarks, market participants are voting on how to reform pricing for silver - a decision that may also carry implications for gold
Sandor optimistic about carbon, despite EU ETS woes
Despite turmoil in the EU ETS, the notion of emissions trading is continuing to gain ground, Richard Sandor, the chairman of Environmental Financial Products, tells Mark Pengelly
GDF Suez faces CFTC market manipulation probe
GDF Suez's bidding activities in the Texas power market have drawn the attention of the US Commodity Futures Trading Commission, sources say
Commodity firms need a coping strategy for Mifid II
The recent agreement between EU institutions on a second wave of Mifid legislation will only increase the current level of uncertainty shaking the commodity market. Amid this backdrop, participants need to reconsider their coping strategies, argues…
EU consultation provokes debate on future of energy market
On June 16, the Agency for the Cooperation of Energy Regulators closed a consultation on the future of the EU energy market. The document’s wide-ranging proposals have been met with a mixed reaction from regulators and market participants. Gillian Carr…
Energy firms use high-tech tools to avert manipulation fines
As regulators tighten their scrutiny of commodities trading and impose costly penalties for market manipulation, energy firms are stepping up investment in trade surveillance. But properly implementing trade surveillance systems in commodity markets is…
CFTC position limits rule blasted by commodity merchants
Vitol, Louis Dreyfus and other commodity trading firms say the proposed bona fide hedge exemptions in the CFTC's revived position limits rule are too narrow and discriminate against merchants
Derivatives dealer rule worries Canadian energy firms
Companies such as Suncor and TransAlta fear 'huge' costs if they are obliged to register as derivatives dealers and clear all their trades under new rules being considered by Canadian regulators
Fragmentation seen holding back Canadian oil derivatives
The existence of several rival price indexes for Western Canadian Select is hindering the growth of financial trading in heavy crude oil from Alberta, market participants say
Energy Risk Asia Awards open for submissions
Energy Risk is now accepting submissions for its highly-prized Energy Risk Asia Awards, which will be featured in our September 2014 issue
BNP Paribas hires former JP Morgan commodity salesman
David Samuels joins BNP Paribas to become New York-based head of Americas commodity sales, two months after leaving JP Morgan
Oil benchmarks should diverge in coming year, says BAML’s Blanch
A spike in North American oil production and seasonal changes in demand should see WTI fall sharply later this year – a contrast with Brent, which is exceptionally stable, says BAML global head of commodities research in an exclusive video
Dodd-Frank swap dealer rules tricky, says Cargill compliance head
A lack of guidance on the swap dealer provisions of the US Dodd-Frank Act is turning compliance into a guessing game for swap dealers such as Cargill Risk Management, suggests the firm's chief compliance officer in a video interview
UK competition probe will 'rebuild trust' says EDF Energy chief
Vincent de Rivaz, the chief executive of supplier EDF Energy, says he supports a proposal by Ofgem to refer the UK energy market to the Competition and Markets Authority
Commodity traders won’t replace banks, says Citi’s Staley
Citi head of global commodities “doesn’t lay awake at night awaiting a full-scale assault” from non-bank companies, such as oil majors and commodity trading houses