Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
Securitisation would be "a lot less viable" if SPVs do not qualify for clearing exemption, says Isda
Efficient hedging – Using market distortion to your advantage
A shrinking pool
US Airways, which has stood out from the rest of the airline industry in recent years because of its refusal to hedge fuel costs, wants to hire someone to run a fuel hedging programme. The airline denies that it is reversing its stance on fuel hedging,...
This week, Delta Air Lines confirmed rumours that it was purchasing a refinery on the US east coast, a first-of-its-kind transaction. As details of the deal have emerged, some observers have warmed up to the idea that Delta can better manage its fuel...
Undermining commodities hedging
Valuation of commodity structures in co-integrated futures markets
Most respondents think oil prices will rise – but few have risk management policies in place to cope with it
Despite hard-won exemptions, corporates should consider the pros and cons of clearing, according to panellists at an ACT event - but treasurers remain unconvinced
Analysts have been stunned by reports that Delta Air Lines is considering the purchase of an idled ConocoPhillips refinery on the US east coast. The unprecedented deal would provide Delta with an in-house source of jet fuel, but the problems inherent...
Despite ‘end-user’ exemptions, strengthened banking regulations are likely to impact energy corporates due to their reliance on banks and other financial firms to manage hedging programmes, says a survey by Greenwich Associates
King's College professor of finance Damiano Brigo says regulators should clamp down on dealers looking to hedge debit value adjustment gains by selling CDS protection on closely correlated names
As the boom in North American shale gas production continues to feed an oversupplied market, US natural gas prices sank to 10-year lows last week. Gas consumers are taking a serious look at seizing the opportunity to lock in prices — but remain hesitant...
It's all relative
Refineries in Europe have stepped up their hedging activity in recent months as they take advantage of a recovery in margins, market participants say
Republicans dismiss prop trading ban as overly complex, unworkable and unenforceable
Comparing delta-hedging strategies
Scanning the horizon
WTI-Brent spread volatility disrupts hedging programmes
Energy-intensive companies are reluctant to pursue aggressive hedging programmes in the current market environment, where headlines are having a disproportionate effect on prices compared with the fundamentals, say consultants
Basel III and Emir could push companies out of Europe, predicts ACT deputy policy director