Energy Risk
Icap Hyde buys Capital Shipbrokers
Global shipbroking firm, Icap Hyde, has acquired Capital Shipbrokers, a privately-owned shipbroker based in London.
ICE to acquire YellowJacket
Electronic exchange and over-the-counter (OTC) market operator IntercontinentalExchange (ICE) is to acquire YellowJacket Software.
CME offer for Nymex leaves ICE in the cold
The potential creation of the world’s largest exchange will strengthen rivals’ urge to merge, say analysts. David Watkins reports.
Tullett Prebon brokers first physical fuel grade ethanol trade
Inter-dealer broker Tullett Prebon’s biofuel desk has completed its first trade in physical fuel grade ethanol.
CME makes offer for Nymex
The Chicago Mercantile Exchange (CME) has confirmed that it has made an offer for the New York Mercantile Exchange (Nymex).
Bank of America closes London commodities desk
Bank of America has closed its London-based energy and commodities trading desk as part of a global “realignment” strategy of its investment banking division that will see a total of 650 employees made redundant.
NYSE Euronext and Caisse des Dépôts launch carbon exchange
NYSE Euronext and French state bank Caisse des Dépôts have announced the launch of Bluenext, an international exchange that will operate markets in carbon emission allowances and credits.
EC sets out phase III plans for EU ETS
The European Commission (EC) today outlined its plans to expand the scope of the European Union’s Emissions Trading Scheme (EU ETS) for the trading period of 2013 - 2020 (phase III).
First cleared CER spot transaction on Climex
The first cleared spot trade of Certified Emission Reductions (CERs) took place on Climex this week.
Global carbon market grows 80% in 2007
The total value of greenhouse gas emission permits traded in 2007 reached €40 billion, an 80% rise on the 2006 figure of €22bn, according to information provider Point Carbon.
Currency correlations
The US dollar has undergone a 40% decline against theeuro over the past seven years. At the same time, crude oilprices have risen over 350%, and were up 57% in 2007. Theimpact of currency on the world energy markets, and whetherthere is cause or effect…
First Dutch spark spread traded
The first OTC Dutch spark spread, which represents the generating margin of gas-fired power stations, was traded this week, brokered by Spectron.
A force to be reconciled with
Reconciling portfolio valuation differences between energy risk management software packages is a crucial task both in system replacements and upgrades. Brian Shydlo of Sirius Solutions introduces the concepts and techniques associated with this activity
Currency correlations
While oil prices have been rising, the US dollar has staged a steady decline, leading to much speculation over the linkage between the two. Eric Fishhaut investigates their connection
Tready and tradable
Implementing a new energy trading and risk management system can be complicated, but the difficulty of preparing the entire business for change is often underestimated, say Michael Campbell, Cynthia Sepety and Dutch Holland of management consultancy…
Green backing
The financing of renewable energy projects is becoming more attractive, as rising demand and prices make it a safer investment. The subprime crisis will tip the balance further in favour of green investment and open up opportunities for end-users to…
Marking to the wrong model
Brett Humphreys and Sarbo Saha show how calibration can reduce model risk but may mislead us into thinking an inappropriate model is working
UBS launches Greenhouse Index
UBS Investment Bank has launched the UBS Greenhouse Index (UBS-GHI) , the first tradable investment benchmark tracking the Greenhouse Effect.
Commodities trading volumes boom in 2007
Trading volumes of commodities on the Chicago Mercantile Exchange’s Globex platform, consisting of New York Mercantile Exchange (Nymex) energy contracts and Comex metals, reached record levels in 2007, as did annual volumes at Atlanta-based…
Foster Smith
Foster Smith, head of US gas and power trading at JP Morgan, tells David Watkins his fast-track career path is par for the course in commodities