Commodities

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Central banks

Basel II is a bonus for economic stability, says Greenspan

Better management of banking risk and new rules on capital hold the promise of a stronger banking system that will contribute to economic growth, according to US Federal Reserve chairman Alan Greenspan.

08 Oct 2004

Energy

Nymex ends open-outcry trading of PJM monthly power futures

The New York Mercantile Exchange (Nymex) will move daytime trading of the PJM monthly electricity futures contract to ClearPort, its internet-based system, from the open-outcry trading floor on November 1.

08 Oct 2004

Energy

GFI hires five traders to offer dry freight trading

Inter-dealer broker GFI has hired five brokers to start offering dry freight derivatives. The service will complement the company’s commodities trading activities, particularly coal.

07 Oct 2004

Commodities

Evolution starts brokering US natural gas and power

US coal and emissions broker Evolution Markets has expanded its services to include over-the-counter (OTC) brokerage services for North American natural gas and power. Jeff Rosenzweig has joined as managing director of the new gas and power desk, and…

07 Oct 2004

Energy

El Paso makes $198m from further asset sales

Houston-based energy company El Paso Corp has sold four more power plants to Northern Star Generation for $147 million, continuing its mass sell-off of assets. El Paso’s merchant energy subsidiary has also received a final instalment of $51 million on…

05 Oct 2004

Hedge funds

Champagne performance at Charlemagne

London emerging markets managers Charlemagne Capital have seen steady returns from the OCCO Asia hedge fund, while adding other emerging market products to its suite.