Coal derivatives activity rises in Europe and US despite differences

A tale of two continents


Coal is not regarded as the most glamorous or fast moving of commodity markets. But the pace of change has been picking up recently, as shifts in the pattern of global supply and demand for the mineral are altering the trading habits of market participants. In both Europe and the US, these changes have stoked an increase in coal derivatives trading - but in either case, the rise has occurred amid a very different backdrop of underlying physical market activity.

In Europe, increased participation