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Foreign exchange

Mooney quits Trafigura to launch Merrill fund of funds

David Mooney, formerly head of power and gas trading at Trafigura in London, has left the Swiss commodity trading house to join Merrill Lynch. Mooney will join Merrill in mid-June as a managing director where he will be charged with evaluating commodity…

Ofgem finds no evidence of market abuse

Britain’s Office of Gas and Electricity Markets (Ofgem) says it has found no evidence of market abuse following its probe into the high gas prices between September 2003 and October 2003, when wholesale spot prices rose by 80%.

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