US futures exchange, consisting of two divisions: the Nymex division and the Comex division. Along with metals futures and options, the exchange offers trading for energy futures and options in crude oil, heating oil, gasoline, natural gas and electricity, as well as propane futures and options on the crude oil/gasoline and crude oil/heating oil crack spreads. In August 2008, Nymex Holdings, the parent company of Nymex was acquired by CME Group. The exchange also operates the Nymex ClearPort® Services for clearing trades, as well as the Nymex ACCESS® system for after-hours trading when the open-outcry trading floor is not open.
Commodity trading and risk management is a subject that is necessarily complicated, and is becoming more so. The Energy Risk Glossary seeks to disentangle and clarify the jargon by providing definitions of commonly used energy and commodity market terms.
These include definitions related to a variety of underlying energy products, as well as technical terms about the many instruments and benchmarks used by energy market participants.
Many of the most recent terms to have been added to our glossary stem from the actions of regulators since the 2008 global financial crisis. The onset of rules, such as the US Dodd-Frank Act and European Market Infrastructure Regulation, has markedly increased the cost and complexity associated with commodity trading. Perhaps they have also increased the need for a handy reference guide such as this.
The glossary is extensively cross-referenced, making for easy and thorough searches. We hope you find the latest edition of the Energy Risk Glossary to be a useful resource.
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