Commodities
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Russian revolution?
The news that TNK-BP will sell oil products on the St. Petersburg International Mercantile Exchange could signal a shift by Russia towards market mechanisms, Roderick Bruce reports
Phoenix rises into green markets
Interdealer broker expands in to renewables and emissions markets to harness sector growth, and plans to act as a counterparty for RECs
CME acquires hurricane index
CME Group has acquired the Carvill Hurricane Index from Carvill America Inc. and renamed it the CME Hurricane Index.
Sectoral CDM proposals spark debate
In the run up to key climate negotiations in Copenhagen in December the EU has surprised the carbon market with vehement backing of a redesigned CDM. Roderick Bruce investigates
First agricultural swap on CME Clearport
Starsupply Renewables, a biofuels and agricultural commodities brokerage, has successfully brokered the first ever cleared swap for an agricultural product using CME ClearPort.
New York may up RGGI allowances
New York State may decide to allocate more allowances under the Regional Greenhouse Gas Initiative to ease the cost burden on compliance buyers, finds Pauline McCallion
S&P and Korea Exchange launch new indexes
Index provider S&P, in collaboration with the Korean Exchange (KRX), has launched two indexes: the S&P/KRX Asia 100 and Exchanges indexes, which are the first since S&P and KRX announced a partnership in September last year, and are designed to underlie…
Accounting boards: Spain's dynamic provisioning not the way forward
International accounting standard setters have warned that accounting for dynamic provisioning – rainy-day funds banks build up in good times to absorb losses in economic downturns – should not be recorded against profit and loss (P&L), as it is in Spain.
Emissions drop shows carbon markets are working, says Point Carbon
A 6% decrease on annual global emissions in 2008 in comparison to 2007 shows that the carbon markets are working, according to Point Carbon analysts.
Green shoots
Conference Report: Spain
First biodiesel paper swap traded through ClearPort
The first ever over-the-counter (OTC) biodiesel paper swap has been brokered by US firm Starsupply Renewables, through CME Group's ClearPort system.
Rosneft and TNK-BP trade on Saint Petersburg exchange
Russian oil companies Rosneft and TNK-BP have confirmed details of their trading activities on St. Petersburg International Mercantile Exchange (Spimex).
House unveils draft cap and trade bill
Democrats in the House of Representatives issued draft legislation today proposing an 83% carbon cap by 2050 and a national renewable energy requirement of 25% by 2025.
Iberdrola Renovables: “No change in investment plans”
Spanish energy company Iberdrola Renovables has confirmed that it still plans to deliver all the wind projects planned for this year and will continue with its strategic plan to invest €18.8 billion by the end of 2012.
Low oil price puts supply growth at risk
Future oil supply growth could be hit by the fall from last July's peak price of $147 per barrel, according to a new study, with 7.6m barrels per day (bpd) at risk between 2009 and 2014.
Shanghai steel futures begin trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said.
Phoenix launches platform for renewable credits
Interdealer broker Phoenix Partners has launched an electronic OTC trading platform for renewable energy credits (REC.)
Shanghai steel futures shine on first day of trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said. The two new contracts are the seventh and eighth products to be…