Infrastructure
Feeling the liquidity pinch? Then move over to the Dark side
dark liquidity
Safeguarding buyout-investment IRR levels through operational change
financial engineering
Falling on deaf ears
Cover story
Editor's letter
Editorial
Going for gold
Energy and Commodity Rankings 2007: Metals
A new twist
CPDOs
Phase II takes shape
Despite the EC's tough stance on Phase II national allocation plans, carbon prices are drifting downwards. The potential for legal wrangling and uncertainty over the importing of project-based credits could be to blame, reports Henrik Hasselknippe
Beyond compliance
Operational risk for the energy sector covers everything from production to transportation. Companies are now seeking sophisticated solutions to integrate op risk into wider risk-management programmes, as Oliver Holtaway reports
Gas portfolio and transport optimisation
Deciding which instruments to use to balance gas flows is not easy. Gido Brouns and Alexander Boogert discuss how to achieve gas portfolio optimisation by integrating this with the various gas transportation options available
Calling for clarity
As a US federal carbon trading scheme begins to look increasingly likely, the current lack of a definitive regulatory framework is frustrating the forward planning of utilities and power suppliers, finds David Watkins
UBS takes top metals spot
UBS has won top spot in this year's metals poll, pushing last year's winner, Barclays Capital, into second place. Goldman Sachs finishes in third position and HSBC in fourth, in a year characterised by volatile metal prices. By Mark Pengelly, with…
Compliance solutions
Compliance with regulations such as Sarbanes-Oxley and Mifid is putting an increasing burden on energy-trading firms. Roderick Bruce looks at ways of overcoming the latest regulatory hurdles
Projecting risk
Oil and gas projects have high investment stakes, so weighing up the risks and viability of a project against an existing portfolio is essential. Dan Patterson looks at some techniques
The Big Interview: Paul Mingay
The head of credit at Morley Fund Management wants to see better transparency in the bond markets - but not at any price. Interview by Nikki Marmery
Bursting point: A deflating time for US housing market
The US housing market has come down to earth with a bump, but the landing has not been as hard as many investors had feared. There are even some positives to be gleaned from the recent strong performance of mortgage-backed securities and the success of…
Corporate credit: The final frontier for central banks
Central banks are showing more interest in corporate credit. With spreads at historically tight levels, these traditionally risk-averse investors are exploring further down the credit curve in search of returns. Matthew Attwood reports on the rise of the…
MassMutual launches new CDPC
New York-based Invicta will act as a counterparty on CDS exclusively within structured credit rather than the single-name market, which its rivals serve
EHYA presses for greater loan disclosure to combat 'parallel' markets
Market participants trading loans privately on a bilateral basis may have an advantage over investors who trade solely using public information - a situation the EHYA is keen to tackle
Back to basics: the cash CDS basis
We take you back to the credit basics to review everything you thought you already knew but were too afraid to ask... Moorad Choudhry, head of treasury at KBC Financial Products in London, discusses the credit default swap basis
Winner: BMW
This month's awards for the most innovative and mould-breaking deals in the credit market go to BMW for its EUR1 billion bond, Calyon's convertible and KfW's rouble issue
Final statement on CSFTs is published
REGULATORY UPDATE
Wise to the system
Software survey