Operational risk
The furore over physical commodity trading
Despite the agitation over their role, there are valid reasons why banks are involved in physical commodities
Commodity hedgers alarmed by CFTC margin proposals
Margin rules proposed after the collapse of MF Global could dramatically raise the cost of hedging, complain market participants
Banks’ physical commodity trading comes under scrutiny
Amid a review of a 2003 determination by the Federal Reserve, the involvement of US banks in physical commodities has come under fire from regulators, politicians and the media. Could they really be forced to exit physical trading? Alexander Osipovich…
Energy firms find Emir thresholds too close for comfort
The European Market Infrastructure Regulation will force non-financial counterparties to clear trades in over-the-counter derivatives once they reach a set of notional thresholds. And despite their original expectations, many energy companies could be…
Energy traders lag on post-trade processing, survey finds
Baringa Partners survey suggests firms may struggle to cope with European financial regulation
The importance of trading to smart energy business models
Expertise in energy trading is vital to the success of smart energy business models, which rely on integrating decentralised generation assets with the wholesale energy market. That presents an opportunity for firms with the right skills, argue Jim…
Energy end-users may miss Dodd-Frank reporting deadline
Energy derivatives end-users face uphill struggle to comply with reporting rules when no-action relief expires
Trade repositories eye Remit opportunity
Entities backing trade repositories for OTC derivatives show interest in registering as RRMs
Power market design leads traders to take advantage
The design of modern power pools is highly complex, creating plenty of opportunities for clever traders to profit by circumventing the rules, writes Vincent Kaminski
European regulators get to grips with Remit monitoring
By mid-2014, the Regulation on Wholesale Energy Market Integrity and Transparency is expected to see European energy market participants reporting masses of information about their trading activity to regulators. How do regulators intend to use this data…
Head oil trader leaves Barclays
Shake-up at Barclays continues as George Cultraro, global head of crude oil and refined products, leaves the bank
Senior JP Morgan energy trader departs
London-based head of European gas and power trading said to leave for BTG Pactual
WTI rally offers limited upside to oil producers, say analysts
WTI rally may be short-lived, say analysts, while impact of backwardation is likely to be felt more strongly
Ferc targets power market gaming with JP Morgan fine
Record $410 million settlement demonstrates zero-tolerance approach towards exploitation of market design flaws
Physical flows will foster changes to energy benchmarks
Growth in WCS derivatives volumes highlights continuous evolution of the energy derivatives market
Noble Group swipes E.on and JP Morgan heads
Morgan Stanley commodity marketing head leaves; APX names new chief executive; Citi expands European power and gas sales; Clean Energy hires senior energy trader; Barclays names head of US power and gas trading
Bank physical commodity trading attacked in US Senate hearing
Physical trading by banks said to inflate commodity prices, increase systemic risk and threaten shortage of beer cans
European power and gas liquidity hit by Mifid II fears
European energy traders say worries about the impact of Mifid II are chilling activity in longer-dated power and gas
Firms seen upping surveillance and self-reporting after Ferc fines
Ferc penalties against Barclays and other banks expected to bolster compliance with market manipulation rules
Bribery laws pose compliance challenge for energy firms
Oil and gas firms still face compliance challenge from anti-bribery laws, despite court judgement against Dodd-Frank disclosure rules
Liquidity improves in Canadian heavy oil derivatives
Trading in derivatives linked to Western Canadian Select (WCS) heavy crude oil has jumped in the past few years, giving the country's producers improved opportunities to hedge. But the lack of a unified WCS price index has made it difficult for liquidity…
Ercot's Doggett on keeping the lights on in Texas
Despite worries about a shortfall in generation capacity, Trip Doggett, president and chief executive of Ercot, is proud that Texas has the liveliest deregulated power market in the US. He speaks to Alexander Osipovich
BP registers as swap dealer
BP registers its US-based energy trading subsidiary as a swap dealer, becoming the first oil and gas major to opt for dealer status under Dodd-Frank
Power proves a tough choice for Australian regulators
Supervisors must decide whether to include electricity in derivatives reform despite high prices and industry opposition