Operational risk
Natural Gas House of the Year: Koch Supply & Trading
With a swift launch in European gas and global LNG, oil heavyweight Koch Supply & Trading becomes a global player in natural gas
Oil & Products House of the Year: BNP Paribas
BNP Paribas is holding the course in oil and refined products, as other banks abandon the commodities market
Deal of the Year: BP
Moving quickly, BP managed to salvage Iona Energy’s North Sea acquisition with an innovative crude oil options transaction
Research House of the Year: Marex Spectron
The increasing prevalence of financial trading in commodities means there is a need for innovative technical analytics, which broker Marex Spectron has done well at providing
Energy Risk Manager of the Year: GDF Suez Trading
As banks retreat from commodity market, GDF Suez Trading is expanding its risk management business and broadening its geographic reach
Electricity House of the Year: Citi
Despite cutbacks and withdrawals among banks and large utilities, Citi has seen its commitment to the power market matched by strong revenue growth in the past 18 months
Derivatives House of the Year: Citi
While other banks are nervously pulling back from commodity and energy derivatives trading, Citi is boldly pushing ahead
Quants: how they shaped the modern energy market
Nowadays, quants are well established in energy trading. But the original introduction of quantitative techniques to the industry was far from straightforward, with a lot of hard work involved in adapting financial market models to the energy arena…
Tradition’s Pinchin looks back on successes and failures
David Pinchin, co-founder of Tradition Financial Services, speaks to Stella Farrington about his 30-year career in derivatives markets and how it informs his more recent work with disadvantaged youths
JP Morgan and Mercuria reveal post-transaction plans
Icap Energy chief Newman steps down; PetroChina hires products head; BAML makes commodities hires; E.on recruits Barclays power and gas head; Evolution launches US power desk
The hidden revolution in real-world monitoring
With more data available to us than ever before, harvesting, consolidating and transforming it into actionable insight has become Thomson Reuters’ mission, as discussed in this sponsored feature by Leigh Henson, global head of energy, and Stefan…
Energy firms ponder Mifid exemptions and position limits
A consultation by the European Securities and Markets Authority is being closely scrutinised for answers on how a revamped Markets in Financial Instruments Directive will affect commodity trading companies
Unfinished rules likely to cause continued hedging woes
Post-crisis financial legislation is generating deep uncertainty for industry participants, making life difficult for companies that rely on commodity markets as a vital way of managing their risk
CFTC eases Dodd-Frank burden on energy companies
In the wake of industry criticism, the US Commodity Futures Trading Commission is taking steps to relax position limits and accommodate the concerns of public utilities in its implementation of the Dodd-Frank Act
CFTC accord bolsters Ferc drive to catch manipulation
Memorandum of Understanding with US Commodity Futures Trading Commission on information sharing has been "extremely useful" for energy regulator, says Federal Energy Regulatory Commission's deputy director of surveillance
No easy way to hedge Bakken crude oil, say energy firms
Despite surging production in the Bakken shale region in North Dakota and Montana, trading remains fragmented and the market has yet to coalesce around one pricing point for crude oil production, making hedging difficult
Energy traders seek flexibility in CFTC position limits
Bona fide hedging definition and complexity of position limits worry panellists speaking at Energy Risk Summit USA
Fuel hedgers bemoan bank retrenchment from commodities
Delta Air Lines and World Fuel Services describe impact of Wall Street retreat from commodity markets at Energy Risk Summit USA
Quant energy models need greater emphasis on fundamentals
Boom in shale oil and gas extraction, and growth in renewables underline importance of reflecting fundamental factors in quant models, argue experts
Looking back: Nymex moves into ‘classy’ new headquarters
CME Group’s Nymex trading floor is now sparsely populated, but back in 1997, the exchange was in urgent need of additional capacity, as Energy Risk reported in May that year
TXU bankruptcy holds lessons for risk managers
The bankruptcy of Energy Future Holdings – formerly known as TXU – should act as a warning to risk managers, who must be alert to excessive self-confidence and a failure to deal with unpleasant or inconvenient facts, argues Vincent Kaminski
More work required on Remit reporting, firms say
Back-loading, self-reporting and non-standard trades continue to pose major obstacles to compliance with Remit, say energy trading firms
Bank-led commodity decorrelation theory rejected by analysts
Unctad economists' argument that bank withdrawals are loosening correlation between commodities and equities "doesn’t make any sense", say analysts
JP Morgan unveils commodities succession plan
John Anderson and Michael Camacho to succeed commodities chief Blythe Masters amid sale of physical business to Mercuria