Commodities
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UK to set up information clearing house for disaster recovery
WORLD TRADE CENTER AFTERMATH
Round-up of recent publications
RECENT BOOKS
The Risk 2002 commodity & energy derivatives rankings
Volatile energy markets, plummeting metals prices, September 11 and the implosion of Enron: 2001 was an eventful year for the commodity and energy derivatives markets. Kevin Foster and John Ferry introduce our annual rankings of dealers and brokers
The vanilla explosion
Business in three- to five-year vanilla default swaps now accounts for around a third of the market’s total notional outstandings. With many dealers reporting twofold or more growth in volumes, the credit derivatives market is now in full stride.
The missing piece
Thailand
Rallying cry for Italy
Italian banks are racing to catch up with their largest US and European competitors in risk modelling. Inspired by Mauro Maccarinelli, IntesaBci is leading the pack.
Sempra Energy Trading acquires Enron Metals
Sempra Energy Trading, the Connecticut-based gas, power and petroleum dealer, is to acquire Enron Metals in a $145 million cash deal.
ABN’s Mulder calls for faster op risk implementation
Bankers were urged to accelerate implementation of operational risk management practices to better serve their institutions ahead of Basel II by Herman Mulder, senior executive vice-president for group risk management at Dutch bank ABN Amro, during a…
FSA chairman voices CDO concerns
The Financial Services Authority (FSA), the UK's principal regulator, is concerned that the rapid growth of credit risk transfers between banks and insurers/ reinsurers could affect financial stability.
CORRECTION: I-Wex backs hourly data to boost weather market
A correction has been made to the final paragraph of this story, published on RiskNews, January 25. Element Re, and not Aquila, as stated in the original story, has become QuantWeather's first customer.
I-Wex backs hourly data to boost weather market
I-Wex, a UK-based data provider, has launched QuantWeather.com, an online platform for historical weather data. Speaking at the product’s launch, at Risk ’s WeatherRisk 2002 conference in New York, Nick Mooney, I-Wex’s chief executive, claimed…
Platts launches US coal derivatives index
Platts, the energy information business and part of McGraw-Hill, has launched a series of coal derivatives indexes in the US to help market participants to price contracts in this developing area of the energy markets.
Market upbeat as WeatherRisk 2002 opens
The WeatherRisk 2002 conference in New York opened today in upbeat mood, with speakers predicting strong future growth in the market despite the pull out of two leading weather derivatives trading firms, Enron and BNP Paribas.
BNP Paribas closes weather derivatives unit
BNP Paribas has withdrawn from the weather derivatives market in a move likely to prompt closer scrutiny of weather-trading unit performance at other banks.
LNG comes in from the cold
Will the current rise in activity in the liquefied natural gas industry result in the product being traded in the same way as other commodities? By Eurof Thomas
On a slow road
Many in the energy industry are touting Italy as the next country in Europe to fully open its energy market to competition. But on closer examination, the country has a long way to go if it is to emulate the UK, the Nordic region and Germany. By Robin…
Basel shortcomings: Danger lurks on the rocky road to Basel II
The Basel Accord proposals to define operational risk contain many fatal flaws, says Jacques Pézier. He argues that it would be better to focus management time on managing key risks than on developing op risk databases and measurement procedures.
Regulators want active dialogue on op risk
BASEL - Active dialogue between banks and their supervisors is the key to the continued development of approaches to managing operational risk, global banking regulators said in a much-delayed paper on op risk sound practices issued in December.