Energy companies say key definitions in recently adopted US financial legislation are too broad or need clarifying, and call for additional 'trader' classification
Relaxed registration rules for Transmission System Operators (TSOs) could increase VAT fraud in the power and gas over-the-counter (OTC) markets as exchanges tighten controls, say analysts
Bloomberg has launched a derivatives valuation service that aims to increase transparency and flexibility in the market
States of flux
A game-changing year
The number of approved Clean Development Mechanism (CDM) projects in China tumbles by 30% after investors voice concerns that the generated credits will not be legal under future emissions' regulation
The challenges of central clearing
Carbon brokers establish their own checks for assessing counterparty risk, following European market authorities’ failure to react to a spate of carbon market fraud.
The renminbi deliverable forwards market has hit at least $28 million during the first month of trading following an agreement in July between the the PBOC and HKMA that enabled Hong Kong to act as an offshore centre for the Chinese currency.
Efforts by Isda and international banks to get Asian counterparties to use portfolio reconciliation services for OTC derivatives are starting to pay off
Experts warn that major UK end-users may face another quarter of power and gas price volatility, indicating the necessity of a risk management programme
End-users’ energy and commodities hedging strategies are growing in sophistication as they adopt more complex products and non-traditional tools, says the head of RWE npower’s optimisation desk
Efforts by Nafmii to bolster the definitions of China’s over-the-counter derivatives master agreements should help market development. But there are concerns about potential copyright infringement related to Isda master agreements.
Hedging programmes for oil & gas companies show widely differing outcomes according to the latest flurry of company results
Clearing giant LCH.Clearnet strengthens its position in Asia as it looks to seal a number of clearing deals with a raft of exchanges and other market participants
The standardisation and enforceability of documents represents a cornerstone of the over-the-counter derivatives market in Asia. But as the sector continues to grow, risk mitigation from close-out netting has yet to gain legal certainty in many jurisdictions....
Section 716 of the Dodd-Frank Act will force swap dealers to hive off certain derivatives businesses into separate affiliates. But the legislation is fiendishly complicated, riddled with oversights and requires daring interpretative leaps, which has left...
Sovereign derivatives users have been able to avoid posting collateral to their dealer counterparties in the past, but pending reforms to bank capital and funding rules are changing the equation. If sovereigns refuse to budge, they will have to accept...
Corporates across the globe have lobbied to ensure end-users are not subjected to new clearing requirements for derivatives. For Lufthansa’s treasury department in Frankfurt, ensuring it is able to continue to hedge its foreign exchange and interest...
Dealers have made progress towards clearing swaths of the over-the-counter derivatives market. But market participants are likely to have to clear more awkward products to satisfy regulators’ demands. Mark Pengelly investigates
Trayport chief speaks to Lianna Brinded about how energy and commodities trading risk management systems will cope with changes in regulation
Central clearing might solve some of the problems with over-the-counter derivatives, but it is by no means a straightforward solution, and could raise some additional problems
New legislation means more study and rule-makings needed, creating operational risks for banks