Structured products
'Boom cycle' for US power prices
With input costs surging and demand growth currently outpacing supply additions in the US power market, analysts are expecting the space to tighten further. David Watkins reports
Swiss Re’s Conning to manage post 2012 fund
Conning Asset Management Limited, a fully-owned subsidiary of Swiss Re, has been appointed to manage a pioneering EUR 125 million post-2012 Carbon Credit Fund.
UBS and Merrill Lynch lose energy traders
The latest sub prime mortgage-related write downs at investment banks UBS and Merrill Lynch, have hit their energy trading arms, and a number of traders have resigned or been made redundant in recent days.
UBS launches freight market investor index
Investment Bank UBS has launched the UBS Blue Sea Index (UBS-BSI), the first tradable investment index in the dry freight derivatives market.
New $115 high for crude
Crude oil for May delivery hit an all time high of over $115 per barrel on the New York Mercantile Exchange (Nymex) today.
Weaker oil prices ahead, says Lehman
A series of “new fundamental factors” have buoyed oil prices in 2008, but various physical and financial indicators suggest weaker prices to come, Lehman Brothers’ senior energy economist said today at a briefing in New York.
JP Morgan eyes Bear Energy prize
JP Morgan's planned acquisition of Bear Stearns looks set to bring it closer to rivalling the biggest energy investment banks, Goldman Sachs and Morgan Stanley, writes David Watkins
Suppliers fight for green
A shortage of green power in the US has left some states struggling to meet mandatory renewables supply targets. Long-term supply contracts could help producers build new plants, but utilities and competitive suppliers are feuding over who gets to sign…
Proposed CFTC merger meets mixed reaction
The US Department of the Treasury has released a blueprint recommending the largest overhaul of the US financial regulatory structure since the Great Depression in a bid to boost US competitiveness in global markets.
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…
Crude rally continues as analysts eye $115 oil
West Texas Intermediate (WTI) crude for April delivery surged to over $105/bbl on Thursday as analysts questioned how much longer the rally could continue.
Interdealers interconnected
GFI's purchase of Trayport emphasises how electronic trading is changing the energy market landscape, finds Roderick Bruce
OTC space braces for energy powerhouse
CME's potential acquisition of Nymex will have major ramifications for rivals, say analysts. David Watkins reports
Icap Hyde buys Capital Shipbrokers
Global shipbroking firm, Icap Hyde, has acquired Capital Shipbrokers, a privately-owned shipbroker based in London.
CME offer for Nymex leaves ICE in the cold
The potential creation of the world’s largest exchange will strengthen rivals’ urge to merge, say analysts. David Watkins reports.
UBS launches Greenhouse Index
UBS Investment Bank has launched the UBS Greenhouse Index (UBS-GHI) , the first tradable investment benchmark tracking the Greenhouse Effect.
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