Finding a niche

Morgan Stanley and Goldman Sachs continue to dominate Risk's Energy and Commodity rankings, but other dealers are starting to make their mark as new, previously niche markets become more liquid. By Andrew Holt, with research by Xiao-Long Chen

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Risk and Energy Risk magazines' Energy and Commodity rankings 2008 clearly reflect continued growth and ever-increasing liquidity in the energy markets, with several new geographies and underlyings appearing in the poll for the first time. The survey indicates a growing number of dealers are entering the smaller European gas and power markets, while liquidity is building in niche underlyings such as weather and emissions trading in the US. Meanwhile, the European Union emissions trading scheme

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