Feature
A formula for high prices
The US chemical industry is crying foul over spiralling natural gas prices, but there are measures they can take to protect themselves, as Kevin Foster discovers
Speculate away
A new report argues that speculative trading in the crude oil markets contributes far less to volatility than its critics suggest. Kevin Foster looks at the arguments
Tough talk on derivatives
The Commodity Futures Trading Commission and Ferc are getting tough in throwing fines around. Is this a ploy to avoid being lumbered with further over-the-counter regulatory responsibilities? Some market participants certainly think so. By Paul Lyon
Carbon across Europe
Pan-European emissions trading is a step closer after agreement of an EU directive. Atle Christiansen and Kristian Tangen of Point Carbon look at the consequences
The LMP supermodel
With Ferc’s standard market design (SMD) seeking a shift from zonal power pricing to nodal pricing, the concept of locational marginal pricing (LMP) has become a key policy issue. Henwood Energy’s Vikram Janardhan proposes 10 key modelling features to…
A Spanish power struggle
A takeover bid by gas distributor Gas Natural for power utility Iberdrola may provide the impetus for much-needed competition in the Spanish energy market. But the bid has upset many traditional links in politics, finance and business. By Maria Kielmas
The case for financially settled contracts
Banks and hedge funds have shied away from trading electricity due to fear and ignorance of the physical nature of the market. But, as Todd Bessemer of Accenture points out, financially settled contracts can avoid the complexity of physical delivery and…
Cofiri’s risk transformation
Investment banking
On the ball
Relegation risk
Flies in the ointment
Outstanding issues
Worth the trouble?
Collateral managers
Bespoke panacea?
Substitution rights
Diversity scoring for market value CDOs
Cutting edge: Risk measurement
Insurance companies’ slow embrace
Credit derivatives
“We need a better Basel Accord”
Securitisation
CDO market looks to a broader asset base
Collateral
Solutions or smokescreens?
Structural enhancements
Basel II: a continental rift
Implementation
Protecting the investor
Roundtable
NRSRO under fire
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