Infrastructure
EU nations accused of restricting free trade of renewable energy
The European Federation of Energy Traders (EFET) has supported a complaint, from an unnamed generator and a renewables trader, made to the European Commission on October 10.
End of the line for CPDOs
Analysts say the demise of Constant Proportion Debt Obligations (CPDOs) now seems certain.
Auction sets 57% recovery on Washington Mutual CDS
An auction yesterday established a final settlement price of 57% for Washington Mutual bonds, leaving sellers of credit default swaps (CDS) with higher-than-expected settlement payments as they close out contracts referencing the former US bank.
Credit Suisse plunges into the red after investment banking losses
Credit Suisse lost SFr 1.3 billion ($1.1 billion) in the three months to September 30 as the volatile market in September hit its investment banking business.
Exelon proposes NRG merger
Exelon Corporation has announced details of a $6.2bn proposal to acquire NRG Energy, a merger that would create the largest US power company in terms of assets, market capitalisation, enterprise value and generating capacity.
ING becomes latest member of helping hand scheme
Financial services group ING on October 19 agreed terms with the Dutch government for a €10 billion capital injection, becoming the latest beneficiary of the state-supported recapitalisation process underway in Europe and the US.
Q & A: CESR chairman Eddy Wymeersch
Eddy Wymeersch, chairman of the Committee of European Securities Regulators (CESR), talks to Risk about the effects the financial crisis will have on regulators and central banks.
Banks move towards clearing for FX, interest rate and equity
A large part of the over-the-counter derivatives market will shift towards central clearing houses by next year, as the collapse of Lehman Brothers on September 15 forces banks to reassess counterparty risk posed by other dealers.
Swiss National Bank to take $60 billion in UBS assets
The Swiss government has stepped in to rescue UBS, the European bank worst hit by the subprime crisis.
Treasury to take $125bn equity in nine US banks, says Paulson
The US Treasury will give banks and thrifts up to $250 billion as part of a series of measures designed to boost public confidence in financial institutions and restart immobile interbank lending markets.
$700bn Tarp might only take equity in healthy banks, hints US Treasury
As well as buying up mortgage-backed securities, the US Treasury’s $700 billion rescue facility - the Troubled Asset Relief Programme (Tarp) will be used to buy equity in a variety of financial institutions. However, Tarp will be "designed with…
FSF releases update on April recommendations
The Financial Stability Forum (FSF) – - on October 10 released a follow-up to its April white paper, Enhancing Market and Institutional Resilience.
Fed discusses CDS clearing house options
The Federal Reserve Bank of New York is today in discussions with interested parties over the establishment of a central clearing house for credit default swaps (CDSs).
Out of gas
High US gasoline prices are causing Americans to turn to energy-efficientvehicles, a trend that could have an enormous and long-term impact ongasoline demand, some experts say. Kate Fazzini investigates
A grounded business
As high fuel costs force many airlines to introduce fuel efficiencyprogrammes and even resort to grounding aircraft, Katie Holliday looksat the likely effects of these measures on jet fuel demand and price inthe coming months
Pricing volumetric risk
Sergey Kolos and Konstantin Mardanov of Citi Commodities presenta general framework for pricing contracts with volumetric risk.They concentrate on a simple payoff and focus the discussion on themain challenge of such contracts, the pricing of the…
Natural gas caught by an energy price wave
US natural gas prices have been dragged up by crude oil prices despitehaving different fundamentals. Eric Fishhaut at GlobalView Softwarecharts the trend
Transparency act remains unclear
Proposed legistlation on US energy market regulation is causing concern amongst traders finds Pauline McCallion
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk
Safe to come out?
As energy traders take stock after the unprecedented market turmoil of September, the Energy Risk team asks a range of key players what effects they expect the investment banking crisis to have on commodities trading and risk management
Funds warn against stifling trade
Recent moves to increase regulation in oil markets are stifling trade and won't bring down prices, warn fund managers
Turkey's political pipelines
Turkey's strategic position at the crossroads of East and West has put it at the centre of a geopolitical tug-of-war, with energy supply a key driver. Robert Amsterdam examines the energy policies being brought to bear in the region
ETRM evolution
As energy trading and risk management systems become increasingly sophisticated, Rana Basu of TradeCapture looks at what users need to consider as they progress from implementing and using the most basic to the most complex systems