Energy Risk

CCRO and S&P form liquidity working group

The US Committee of Chief Risk Officers (CCRO) has established a working group along with rating agency Standard & Poor’s (S&P) to define the most effective metrics integral to assessing the liquidity demands of energy supply and wholesale marketing…

Trayport alliance to offer streamlined trading

Trayport, the software company behind trading platform GlobalVision, has entered into an alliance with Excelergy Corporation to offer a flexible package combining Excelergy’s trading and retail solutions with Trayport’s front-end energy trading platform.

Natural gas storage swaps catch on

London-based GFI has brokered its first over-the-counter (OTC) swap based on US natural gas inventory data, between Houston-based hedge fund Centaurus and another unnamed hedge fund. Centaurus also traded a second such swap on the same day, with an…

Amerada Hess forms LNG division

US energy company Amerada Hess has formed a joint venture with an affiliate of New York-based Poten & Partners, to be known as Hess LNG. The joint venture will be based at Amerada's New York headquarters and will pursue investments in liquefied natural…

Houston happenings

Regulatory pressures, asset valuation and price reporting were just a few of the topic areas covered at Energy Risk’s USA conference in Houstonlast month. Here Paul Lyon rounds up some of the conference highlights

Nymex president to quit

Bo Collins, president of The New York Mercantile Exchange (Nymex), will leave the exchange at the end of this month. Nymex said the decision not to renew his contract was by made by "mutual agreement."

Baltic Exchange forms asset derivatives advisory group

The London-based Baltic Exchange has formed an independent advisory group to enhance the emerging market for ship vessel asset derivatives. The group consists of key users, derivative brokers and physical panellists and will act as an information…

IPE puts back relaunch of power futures

London’s International Petroleum Exchange (IPE) has put back its relaunch date for UK electricity futures – it will now start listing them by the end of September. The exchange had originally intended to launch the contracts around the end of this month.

TXU and CSFB form energy trading company

Dallas-based TXU has entered into a joint partnership with Credit Suisse First Boston (CSFB) to create an independent entity to market and trade power, natural gas and other energy-related commodities in North America.

BoA’s head of energy trading lands at hedge fund

Julian Barrowcliffe, formerly global head of energy trading for Bank of America in New York, has joined Vega Asset Management – a New York-based hedge fund with $11 billion under management. In his new role Barrowcliffe will manage a commodities trading…

Mooney quits Trafigura to launch Merrill fund of funds

David Mooney, formerly head of power and gas trading at Trafigura in London, has left the Swiss commodity trading house to join Merrill Lynch. Mooney will join Merrill in mid-June as a managing director where he will be charged with evaluating commodity…

Wine bar hedges weather

UK-based Corney and Barrow Wine Bars has entered into a group wide weather derivative hedge with XL Trading Partners, the Connecticut-based weather risk management company.

Ofgem finds no evidence of market abuse

Britain’s Office of Gas and Electricity Markets (Ofgem) says it has found no evidence of market abuse following its probe into the high gas prices between September 2003 and October 2003, when wholesale spot prices rose by 80%.

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