Hedging
Illiquidity means some hedges are no longer possible – GE
End-users unable to execute certain trades as dealers retreat, claims swaps counsel
Banks shun internal models in CVA impact study
Accounting exposures win out as banks seek to align capital with front-office practice
E&P firms reluctant to hedge in wake of oil collapse
US shale drillers expected to suffer as hedges expire in the second half of 2015
Hidden price pressures grow in euro swap market
Clients face wider bid/offer spreads, as dealers struggle to find liquid hedges
Internal transfer price optimisation for integrated energy firms
A framework that demonstrates optimal internal pricing will deviate from ‘arm’s length principle'
Illiquidity worries UK insurers in forex hedging switch
Cross-currency swaps could become more expensive as firms' demand increases
EU insurers and structurers clash over Priips cost disclosure
Industries disagree over which of two proposed approaches should be used
EC urged to exempt insurers from central clearing
Need for cash collateral could encourage pro-cyclical investing, industry says
Cutting Edge: Co-simulation of risk factors in power markets
A simple but realistic model to co-simulate the time series of temperature, electricity load and prices is proposed
'Rollercoaster day' in Hong Kong stresses dealers' exotic books
Autocallable knock-in levels under pressure but losses averted
Newcomer of the year: Huntington Bank
Regional bank’s commodity hedging desk flourishes amid retreat of larger dealers
Risk manager of the year (utility): GDF Suez Trading
Internal and external clients benefit from utility’s risk management skills
Risk manager of the year (sovereign): Mexico’s Ministry of Finance and Public Credit
Oil hedging stabilises Mexican state finances amid price crash
Electricity house of the year: Citi
Bank continues to provide liquidity despite tough markets and extreme weather
US shale boom poses challenge to Henry Hub benchmark
Disconnect with eastern US prices generates enthusiasm for regional hubs
EU commodity position limits prove tricky to hammer out
Energy companies worried by lack of detail on how Mifid II rules will work
Quant ideas: Building a better LNG forward curve
An overview of effective methods for constructing long-term LNG forward price curves
Oil rout roils E&P and airline hedging strategies
Price dive rewards producers with cautious risk management practices
Australian miners embrace options to hedge currency fall
Miners facing falling commodity prices and a depreciating Australian dollar
Banks claim trading book rules will hit hedges
Regulatory measures of risk would leap 133% for some positions, warns ING
Dodd-Frank reporting lets traders prey on hedgers
Hedging transactions by end-users exposed by CFTC reporting rules
Adapting to change in agricultural commodities markets
A swap dealer’s products and services should offer the necessary flexibility and control to respond in real time to market volatility and changing business dynamics