Exchanges

Exchange-traded credit derivatives disappoint

The world’s first exchange-traded credit derivatives, which were listed by Frankfurt-based Eurex on March 27, have posted lacklustre trading volumes, with only one major dealer making markets in them.

Power struggle

After years of negotiations, market players believe that a tipping point in the liberalisation of European power markets could be near. But who will be in the driving seat, asks Oliver Holtaway

The missing link

With several countries now developing emissions trading schemes, UN-supervised project-based emissions credits could become the linking instrument that creates a global price signal for greenhouse gas abatement. But greater standardisation in the market…

Charging at commodities

Canada may rank as the world's third largest hydrocarbon producer, yet its energy derivatives market has been, up to now, somewhat constrained. David Watkins reports

Troubled waters

Nord Stream, the planned gas pipeline that will link the super giant Russian gas fields of Siberia directly with Europe, looks set to offer an important solution to the EU's energy security concerns. But even before under-sea construction has begun, the…

Finding the way forward

US wholesale power markets are currently the subject of much concern. As Ferc begins a review to improve competition, Edison Electric Institute's Richard McMahon suggests some key ways to move forward

Purchase timing

Managing purchase timing risk is a constant issue for wholesale power buyers. Pavel Diko reviews products that reduce this risk, proposes a lookback option that can eliminate it completely and outlines a hedging strategy for the option writer

Better prospects

Russia offers better prospects for industry to develop and far more investment opportunities than is widely recognised, writes Pavel Ulianov of Russian metal giant Rusal

Has Asia got the appetite for local currency CDS?

The development of a robust local currency credit default swap market in Asia has come a step closer following the first public won-denominated CDS trade in Korea late last year. Alice Hales looks at whether the ingredients are there for such a market to…

The race to launch credit futures

Eurex, the Chicago Mercantile Exchange and the Chicago Board Options Exchange are locked in a struggle for market share of the new credit futures market. But are investors really sold on the new instruments? Matthew Attwood finds out

The Big Interview: Paul McCulley

Pimco's portfolio manager talks to Dalia Fahmy about chasing yield in an expensive asset class, and what he's expecting will trigger the next market downturn

John Holman

The head of fixed income at the New York Stock Exchange talks to Dalia Fahmy about the exchange's new bond platform, set for launch on April 23

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