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Central banks

Spike in equity volatility causes pain

A spike in equity volatility last month has caused anxiety among equity derivatives dealers, many of which were short volatility, and raised fears that a prolonged increase could generate hefty mark-to-market losses in equity derivatives trading books.

Rocks and hard places

Despite the environmental, political and infrastructure challenges faced by US coal, some believe high-sulphur grades could soon be back in fashion. David Watkins investigates

A new coal agreement

The ISDA Coal Annex allows market participants to combine physical coal trades and coal derivatives under a single trading agreement. Lauren Teigland-Hunt says this development should improve liquidity in the global coal market

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