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Aquila pulls out of energy trading

    • Paul Lyon and Kevin Foster
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US energy company Aquila announced plans last month to wind down its energy derivatives trading book. It took a large step towards doing so by cutting 44% of the workforce in its Merchant Services energy risk management division world-wide, including 71 of its 182 London-based Merchant Services staff. Aquila is looking for a partner to buy the Merchant Services division.

Meanwhile, Houston-based energy company Dynegy halted trading on Dynegy Direct, its online trading platform. The company

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