BNZ enters energy trading

The Bank of New Zealand (BNZ) has launched an energy risk management desk. The plan is to target the bank’s corporate client base who need hedging solutions for their energy, base metals and agricultural commodities exposures, said Wayne Jolly, BNZ’s head of risk management services.

The bank plans to offer swaps, floors and caps for hedging diesel, jet fuel, fuel oil, natural gas and heating oil.

Furthermore, BNZ will also offer weather hedging products – the first bank to do so in the country.

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