Commodity derivatives
The CTA and the self-build Sef: ‘We didn’t intend to do it’
How Aegis built the first non-broker Sef in five years and made way for ‘hundreds of billions’ in OTC trades
Energy firms call for rise in commodity clearing level
Industry says proposed €1 billion increase would not be enough following spike in wholesale prices
Concentration risk add-ons too low at Ice and ECC, says regulator
Results of European stress test suggest shortfall of collateral for large commodities positions is equivalent to 17% of total required margin
Commodities threaten pain for initial margins
Market volatility and spot-based Simm approach may drive large margin spikes in little-tested asset class
Clearing industry braces for volatility ‘super-cycle’
Green transition may fuel higher cash demands and more risk events, FCMs warn
Will the Russian gas crisis derail the EU’s climate agenda?
As Europe weans itself off of Russian gas, This Risk report asks whether the European Union’s climate and carbon agendas will suffer.
Ukraine crisis ‘made VM three times IM’ on CME commodities
Isda AGM: Margins spiked in April following rises in oil, gas and wheat prices triggered by Russia’s Ukraine invasion
Mifid II transaction reporting and risk management – The quest for quality
This report is based on a Risk.net survey commissioned by London Stock Exchange Group, which was completed in August 2021.
Case study: avoiding cash drag using equity index futures
Learn how Equity Index futures, from CME Group, can be used to keep a portfolio fully exposed to its benchmark index while allowing cash to remain for operational purposes.
Energy Risk Commodity Rankings: banks and brokers battle extreme volatility
Winners of the 2022 Commodity Rankings needed new approaches to manage extreme price swings
OTC nickel contracts stuck despite trading resumption
Contracts still unable to settle using new prices, but Isda template may solve the issue
CCPs urged to widen collateral net as commodities spike
Broader acceptance of emissions certificates and letters of credit could relieve margin pressure
‘Dead’ derivatives market leaves big Russia dealers unhedged
VTB and Sberbank face directional exposure to local corporates after mass unwinds by foreign banks
The XVA challenges energy traders face in a complicated and volatile market
As the energy sector has recently experienced extreme fluctuations in price and other dynamics due, in part, to Covid-19 pandemic-related and geopolitical effects, in this paper we take a look at some of the challenges energy traders face when seeking to…
Derivatives exposures up 26% at BP
Oil giant posts fourth consecutive yearly increase in 2021
Shell derivatives exposure rose by $15bn in 2021
Over 93% of the oil giant’s derivatives instruments were designated as current
Case Study: Protecting a crude oil derivatives portfolio from event volatility with WTI Crude Oil Weekly options
Read how a trader identified a short-term risk to their portfolio and used Crude Oil Weekly options as a precise low premium hedge.
Isda disputes excessive FRTB charges for carbon trading
EU carbon certificates show lower volatility and higher netting than Basel approach assumes
How algos are helping inflation-wary investors
Buy-siders look to machine learning for clues on the effect of rising prices on portfolios
Energy Risk Software Rankings: testing times for technology
Commodities software users vote for the technologies that steered them through the recent chaos
EU firms face margin threat as Brexit tips futures into OTC regime
Mid-2021 clearing, margin thresholds loom as LME, Ice futures lose exchange-traded status in EU
Investors eager for next round of China financial reforms
Asia Risk 25: Bond futures and credit default swaps the missing pieces
Oil funds want to reduce risk. Will investors let them?
Despite posting big losses, funds that track front-month contracts remain popular with investors
Derivatives house of the year: Macquarie Group
Energy Risk Awards 2020: Firm’s wide commodities presence, physical and financial risk expertise and financing capabilities result in standout deals