Operational risk
US energy firms facing Dodd-Frank trade reporting ‘nightmare’
Differing approaches of swap data repositories haunt energy companies trying to reconcile trades
Risk & Energy Risk Commodity Rankings 2014 – energy
The past 12 months proved tough for energy dealers, with low volatility, poor liquidity and sluggish levels of client activity. Given this, some banks decided to scale back their commitment to the market – a trend that is reflected in this year’s results…
Risk & Energy Risk Commodity Rankings 2014 – metals
For metals, the past 12 months were marked by plummeting gold prices, directionless markets in base metals and heated rows over the London Metal Exchange’s warehousing system. Despite this, the top dealers and brokers in this year’s rankings are largely…
Looking back: Regulators try to slow down OTC juggernaut
Today, regulation is a fact of life for OTC commodity derivatives traders. But in April 1994, it was somewhat novel, as Energy Risk reported at the time
Cutting edge: Modelling dependence of price spikes in Australian electricity markets
The deregulation of Australian electricity markets has brought several challenges, including the possibility of price spikes, which expose market participants to significant risks. As Adebayo Aderounmu and Rodney Wolff outline, these spikes are hard to…
The 10 biggest energy risk management disasters of the past 20 years
The history of energy trading is littered with losses, bankruptcies and other misfortunes that now serve as cautionary tales. Alexander Osipovich looks back at the biggest energy risk management disasters of the past two decades and how they reshaped the…
UK power special report
UK Electricity Market Reform will have major ramifications for power market participants. Stella Farrington explores the likely impact
American Airlines to stop fuel hedging after merger
US Airways policy of not hedging jet fuel will now extend to American Airlines, says chief executive
EEX seeks Asia commodity derivatives boost
Cleartrade Exchange acquisition based on greater prospects for growth in Asian commodity markets
Commodity position limits may make hedgers think twice
Dodd-Frank and Mifid II position limits could cause firms to withdraw from commodity derivatives
Energy traders breathe sigh of relief over Mifid II position limits
Mifid II exemptions for physically settled power, gas, coal and oil greeted by European energy traders
Lynton Jones laments IPE's hesitation over electronic trading
Lynton Jones, the IPE’s former chief executive, tried hard to promote electronic trading in Brent futures. But those efforts met with strong resistance, he tells Mark Pengelly
Energy Risk Europe & North America awards open for entries
Enter now to win one of Energy Risk's coveted Europe and North America awards
Fed moves to rein in US banks’ physical commodity trading
Under pressure from politicians, the US Federal Reserve floats proposals to tighten rules on banks in physical commodities
Looking back: Are banks coming back into OTC energy derivatives?
Banks have often stepped in and out of the OTC energy derivatives market. In this article from August 2001, Energy Risk reports on banks upping their activity
Market coupling: Energy Risk & Baringa Partners launch survey
Energy Risk & Baringa Partners invite you to participate in a landmark survey on European market coupling
Commodity traders not too big to fail, suggests FSB report
Trafigura, Vitol and other trading houses unlikely to be captured by proposed criteria for global systemically important financial institutions
CFTC-Ferc deal leaves enforcement question unanswered
Agreements reached under US Dodd-Frank Act fail to address critical issue of enforcement
EMR heralds greater government intervention in UK power
UK Electricity Market Reform, which is set to come into effect in July, will introduce a level of government intervention not seen in the country’s power market since the early 1990s. The impact will be felt by UK power firms and could ripple across…
Crude-by-rail data gains in value for traders
As an increasing volume of crude oil is transported via North America’s railroads, market participants are growing hungry for data and market intelligence on crude-by-rail. Such insight had been in short supply, until recently. Alexander Osipovich reports
Resist the rise of the risk management machines
Overreliance on modern risk management systems, and metrics such as value-at-risk, can blind firms to tectonic structural market shifts. To help alleviate this problem, the use of human judgement and intervention is required, argues Vincent Kaminski
Trading OTC may be costlier than you think
Debate continues to rage about the merits of clearing, with some market observers arguing that the benefits of using central counterparties are outweighed by the precipitous costs involved. But such criticisms fail to take the full burden of over-the…
US power firms slam ISO New England over market ‘flaws’
Winter reliability at risk due to problems with real-time pricing, market participants warn
Liquidity flows back into freight derivatives
Rising prices and volatility spur renewed interest in dry bulk FFAs