Commodities
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JPMorgan to expand commodity trading presence
JPMorgan plans to increase its global commodity trading staff by more than 30% within 12 months.
Macquarie and Nomura form commodity alliance
Macquarie Bank and Nomura Securities, a Japanese securities and investment banking company, have agreed to establish a business alliance in commodity derivatives, which will provide commodity derivative and commodity-based investor products to customers…
Desjardins offers natural resource diversity
Desjardins Group, the Canadian cooperative financial group with more than $135 billion of assets under management (as at December 31, 2006), will launch the Natural Resource Guaranteed Investment (NRGI) on June 11.
Virgin Trains to use biofuel
Greenergy Fuels, the UK’s leading independent fuels supplier, will partner with Virgin Trains to supply up to 27,000 litres per week of a new B20 biofuel blend, which contains 20 per cent biodiesel and is designed for trains.
CCFE launches clean energy index
The Chicago Climate Futures Exchange (CCFE), a wholly-owned subsidiary of Chicago Climate Exchange (CCX), announced today that it will launch a futures contract based on WilderHill Clean Energy Index (ECO) on July 13.
BarCap chooses Amex for new iPath listing
Barclays Capital (BarCap) has chosen to list its new iPath exchange traded note (ETN) on the American Stock Exchange (Amex). The note is linked to the Chicago Board Options Exchange (CBOE) S&P 500 BuyWrite Index and the Amex specialist unit is…
EDF Trading builds its natural gas business in Spain
EDF Trading, the subsidiary of French utility EDF, responsible for wholesale energy market activity, has been granted a licence to trade physical natural gas in Spain and plans to start delivery of physical gas to market counterparties later this year.
ETG Capital opens energy hedge fund
Houston-based hedge fund firm ETG Capital Management has launched an energy fund.
DME reveals initial volumes
The Dubai Mercantile Exchange (DME) has revealed volumes from its first two trading days.
EDF Energy to cut CO2 emissions by up to 60%
UK utility EDF Energy, part of the EDF Group, has committed to reduce the carbon intensity of its electricity generation activities by 60% by 2020, in part by building new nuclear capacity.
Australia commits to emissions trading – ASX to launch futures
Following yesterday’s commitment by Australian Prime Minister John Howard to a domestic emissions trading scheme before 2012, the Australian Securities Exchange (ASX) plans to launch a carbon futures market.
Statoil selects Financial Objects’ energy credit risk solution
Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go…
EOn creates EOn Energy Trading; reveals investment strategy
German utility EOn has announced plans to align its trading and power generation businesses “on more European lines,” according to a company statement, “in order to seize earnings and growth opportunities created by the integration of Europe’s energy…
ICE acquires ChemConnect's commodity business
IntercontinentalExchange (ICE) has agreed to acquire ChemConnect’s commodity trading business. ChemConnect is an electronic marketplace for the $150billion US natural gas liquids (NGLs) and chemicals markets.
More cooperation likely in oil industry
The long term challenge to access and develop new oil reserves is likely to foster greater cooperation between the international majors and some national oil companies, says a report on the sector by Moody's Investors Service, a credit ratings agency.
Unearthing value early
London's CDCapital, investing in pre-IPO commodities firms, draws its initials from those of its founder Carmel Daniele, but they may just as easily stand for 'Chinese demand ' when it comes to finding profitable exits from trades, as Carmel Daniele…
Follow the leader as EFG proves private banks is where structuring's smart money is
While structuring products may once have been the preserve of large asset management houses, private banks are starting to open their expertise in bespoke structuring to the outside world, as Rasik Ahuja, head of EFG Private Bank's active advisory, tells…
The green question
Global carbon tradingPedro Moura-Costa, co founder of EcoSecurities, talks with Oliver Holtaway about his hopes for the future of emissions trading