Markets
Oil change
George W. Bush ruled that the US Strategic Petroleum Reserve was to be released in significant amounts only in a national emergency. But incoming US president Barack Obama could change that, finds Susan Arterian
Electronic OTC commodities platform launched
Agora-X has launched an electronic communications network (ECN) for the negotiation of over-the-counter (OTC) transactions in commodity and derivative contracts.
Liffe to launch commodities on Bclear
Liffe, the international derivatives business of Euronext, has announced that it will launch a range of soft and agricultural commodities on its Bclear OTC derivatives platform in the first quarter of 2009.
CFTC petitioned to allow clearing of OTC agricultural contracts
Agora-X an electronic trading and negotiation platform for commodities, has petitioned the Commodity Futures Trading Commission (CFTC) to allow the clearing of over-the-counter (OTC) contracts in major agricultural commodities.
CME to launch new gasoil, natural gas liquids and plastics contracts
CME Group has announced the launch of new gasoil options and plastics futures contracts, as well new natural gas liquid swaps.
Safe to come out?
As energy traders take stock after the unprecedented market turmoil of September, the Energy Risk team asks a range of key players what effects they expect the investment banking crisis to have on commodities trading and risk management
Green Exchange to launch RGGI futures and options in August
The Green Exchange, an environmental exchange backed by New York Mercantile Exchange (Nymex), will launch futures and options contracts based on Regional Greenhouse Gas Initiative (RGGI) carbon allowances at the end of August.
Texas power spikes set tone for summer
Recent surges in US wholesale power prices are driving debate as to whether current spark spreads are large enough to encourage new build. David Watkins reports
Crude volatility evaporates OTC liquidity in May
Huge moves in the oil price in May has affected liquidity in the over-the-counter crude options markets as commercial traders struggled to take definitive views, say analysts.
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.
ICAP executes first US Compliance Carbon Allowance Trade
ICAP announced today that its energy and emissions arm has executed the first over-the-counter (OTC) compliance carbon allowance transaction in the United States.
Exchanges see green in emissions trading
Battle lines are being drawn in the emissions space as Nymex aims to grab a slice of the booming global market, writes David Watkins
Onward with offsets
Awareness of the effect of carbon emissions on climate change has driven growth in the market for voluntary carbon offsets. So who is getting involved, and why? Roderick Bruce finds out
Spectron trades first OTC carbon option settled on CCFE
Energy broker Spectron has brokered the first over-the-counter carbon dioxide option settled against the Chicago Climate Futures Exchange (CCFE)
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
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…
Spectron trades first OTC REC option
Energy broker Spectron has brokered the first over-the-counter option on US renewable energy credits (RECs)
CME, Cbot deal given go-ahead
The US Department of Justice has approved the Chicago Mercantile Exchange’s (CME) plans to merge with the Chicago Board of Trade (Cbot).
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.
ISDA adds coal annex to its Master Agreement
The International Swaps and Derivatives Association (ISDA) today announced publication of the ISDA Global Physical Coal Annex to the ISDA Master Agreement.