Energy Risk
Green Exchange to launch RGGI futures and options in August
The Green Exchange, an environmental exchange backed by New York Mercantile Exchange (Nymex), will launch futures and options contracts based on Regional Greenhouse Gas Initiative (RGGI) carbon allowances at the end of August.
Statkraft signs €4.5 billion swap agreement
Energy company Statkraft has signed a €4.5 billion ($7.07 billion) deal with power and gas company E.ON that strengthens Statkraft’s position in the European renewable electricity market.
GFI expands in European Gas
Interdealer broker GFI has started broking Title Transfer Facility (TTF) on its EnergyMatch Europe electronic trading platform.
Oil hedging losses hit SemGroup
Tulsa, Oklahoma-based midstream oil company SemGroup has filed for bankruptcy following a $2.4 billon loss on its hedging program on the New York Mercantile Exchange (Nymex).
CME makes final improved offer for Nymex
CME Group has improved its takeover offer for New York Mercantile Exchange (Nymex) by $113 million.
CBOE launches crude oil volatility index
Chicago Board Options Exchange (CBOE) has launched the CBOE Crude Oil Volatility Index (OVX).
Borsa Italiana to launch power derivatives
Milan-based Borsa Italiana has signed an agreement with Italian power market regulator Gestore del Mercato Elettrico (GME) for commercial use of the national single price for electricity (prezzo unico nazionale – PUN).
ICE cool about further regulation
ICE Futures chairman Bob Reid said today he was “relaxed” about the CFTC regulation of ICE Futures Europe.
ICE and NGX expand physical natural gas clearing
IntercontinentalExchange (ICE) and Calgary-based Natural Gas Exchange (NGX) are to provide deal entry capability to energy brokers for physically cleared OTC natural gas contracts.
Technology Special Report
Welcome to Energy Risk’s 2008 Technology Special Report, which includes an informativeSystem Frontrunner section and the 2008 software Directory. This is a comprehensivelisting of companies that provide energy trading and risk management (ETRM)software…
Valid Assumptions Required: Monte Carlo VaR
Brett Humphreys discusses the many decisions associated with the calculation of a Monte Carlo value-at-risk.
Explaining bias in mean-reversion speed estimates
Current estimates of mean-reversion speeds for energy commodities may be strongly biased toward zero. Cliff Parsons explains the bias
Uncharted territory
As crude oil prices soar, the coming hurricane season looks set to add yet more complexity to US airlines’ dynamic hedging programmes. Catherine Lacoursière reports
Volatility in dry bulk freight rates
Volatility in dry bulk freight rates has hit record levels in recent weeks.Peter Norfolk at SSY Consultancy & Research discusses the trend
And the winners are...
The 2008 Energy Risk Awards ceremony was held in Houston onJune 10. Comedy writer Alan Zweibel presented the awards withEnergy Risk editor Stella Farrington
Making the choice
Choosing the most appropriate front- and middle-office software canbe a perplexing task. Getting the most out of your software selectionrequires a structured approach, writes Ryan Rogers of Enite
ETRM software directory
ETRM software directory Energy Risk’s annual directory ofenergy trading and risk management software providers
Return of the Jodi?
The Joint Oil Data Initiative (Jodi) to improve oil market data has failed toimpress. But after receiving a tougher mandate at June’s Jeddah EnergyMeeting, that could be about to change, writes Eithne Treanor
Application of MFMC to spread option valuation
John Breslin, Les Clewlow, Calvin Kwok, Chris Strickland and Matthias Pfau continue their discussion of the multi-factor multi-commodity modelling framework
Singapore announces commodities exchange
Trading technology company Financial Technologies Group is to launch a Singapore-based commodities exchange, it has announced.
Singapore announces commodities exchange
Trading technology company Financial Technologies Group is to launch a Singapore-based commodities exchange, it has announced.
Commodities reshuffle at Morgan Stanley as Shapiro retires
Investment bank Morgan Stanley has reshuffled its commodity department, with head of commodities John Shapiro retiring.
Indianapolis hedges against escalating fuel prices
A fuel hedge and savings programme has netted the US city of Indianapolis over $39,000 during the month of June, according to a press release from the Mayor’s office.