Risk management
ECX's CER volumes hit 10 million+ tonnes
The European Climate Exchange says volumes of its certified emissions reduction futures hit over 10 million tonnes in the first 10 days after the March 14 launch
RGGI allowance auction date announced
States participating in the Regional Greenhouse Gas Initiative (RGGI), an agreement among the Governors of ten Northeastern and Mid-Atlantic states to reduce greenhouse gases from power plants, have announced the date for the first ever CO2 allowance…
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.
JP Morgan to guarantee the trading obligations of Bear Energy
Following JP Morgan’s planned $2 per share acquisition of Bear Stearns after a run on the company ended 85 years of independence for the securities firm, the investment bank has moved to secure the trading obligations of Bear’s subsidiaries, including…
Oil reaches new record as gas continues to rise
Crude oil futures closed at a record $102.59 on the New York Mercantile Exchange (Nymex) Thursday.
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.
Imarex buys Spectron
Imarex ASA, the holding company that owns Oslo-based broker / exchange Imarex and clearing house NOS, has agreed to purchase interdealer broker Spectron Group for £70 million ($138 million).
SSY freight screen links to NOS for clearing
Shipbroker SSY has added a direct link to NOS clearing for clients of is freight derivatives trading platform, run in conjunction with globalCOAL.
CME/Nymex defend clearing operations
Exchanges defend vertically integrated clearing in face of increasing scrutiny over merger proposals
US regulator casts doubt over CME/Nymex merger
In a briefing released today, the US Justice Department said that financial futures markets that offer their own clearing services could be anti-competitive, which may prove to be an obstacle to CME Group’s plan to acquire the New York Mercantile…
EC sets out phase III plans for EU ETS
The European Commission (EC) today outlined its plans to expand the scope of the European Union’s Emissions Trading Scheme (EU ETS) for the trading period of 2013 - 2020 (phase III).
LCH.Clearnet and Nodal Exchange to launch new trading and clearing service
LCH.Clearnet, the independent clearing house for power clearing, and Nodal Exchange, the first marketplace to use a locational nodal market for forward power trading, have signed an agreement to provide a trading and clearing service for cash settled…
GFI launches emissions trading platform
Inter-dealer broker GFI Group has launched EnergyMatch, an electronic trading platform for over-the-counter energy derivatives.
CNE innovates in energy risk management
Constellation NewEnergy (CNE), a subsidiary of US utility Constellation Energy, has completed a successful trial of a new risk management programme for large industrial users.
US cannot cope with power demand: NERC
Electricity usage in the US is projected to grow more than twice as fast as capacity growth over the next 10 years, NERC has warned in its 2007 long-term reliability assessment. David Watkins reports
Mixed reception to oversight efforts
Attempts by the US Senate to grant the CFTC greater market oversight have met with a mixed response, writes David Watkins
CFTC pushes for greater oversight
The Commodities Futures Trading Commission (CFTC) has issued a report to Congress recommending that its oversight ability be expanded across electronic trading facilities known as Exempt Commercial Markets (ECMs), which include the electronic…