News
Risk USA: Panelists discuss best practices in the energy market
John D'Agostino, former founding partner and chief operating officer of MotherRock, a Houston-based hedge fund that closed in August, and currently chief executive of New York-based consultancy Dagger, emphasised the difficulties in determining the…
Risk USA: Hancock calls for a reappraisal of risk management
Peter Hancock, president of Integrated Finance, a New York-based hedge fund and consultancy, urged managers to rethink the way they view risk. The dialogue on risk drivers has been “hijacked” by those who either oversimplify the process or become bogged…
Pension funds should use mark-to-market accounting, says Rhode
Lars Rhode, chief executive of the $71.4 billion Danish state pension fund ATP, told delegates attending Risk USA’s derivatives and risk management conference in New York that pension funds must be seen as financial institutions and follow the same…
Deutsche Börse pulls out of Euronext bid
German stock exchange operator Deutsche Börse has abandoned its effort to acquire pan-European derivatives exchange Euronext, clearing the path for the New York Stock Exchange (NYSE).
Electronic trading resumes at CBOE
Electronic trading resumed on Monday on the Chicago Board Options Exchange (CBOE), after a technical fault caused its electronic platform to shut down on Friday morning (November 10).
Oman implements historic change to pricing of crude oil
In an historic move which could have wide-ranging implications for crude oil trading in Asia, Oman has announced it will price its crude on the settlement price of trading at the Dubai Mercantile Exchange (DME).
Puth quits JP Morgan
David Puth, head of global currencies and commodities at JP Morgan, has quit the US investment bank. Senior executives at JP Morgan said they were "very surprised" by his departure.
LME mini contract launch postponed
The London Metal Exchange is postponing the launch of its new miniature copper, aluminium and zinc contracts for two weeks.
Dresdner Kleinwort names new head of equity and credit derivatives
Mark Richardson has joined Dresdner Kleinwort in London as head of equity and credit derivatives.
Progressive, Centrica team up in clean coal project
Progressive Energy, a clean coal project developer, is to team up with UK-headquartered utility Centrica to develop an advanced clean coal project in the UK.
GFI joins ConfirmHub
ConfirmHub has announced the addition of GFI to its group of broker members, which already includes Amerex, ICAP and Tullett Prebon. New York-based GFI is a leading inter-dealer broker that specialises in over-the-counter derivatives.
LogicaCMG’s Prodis chosen for Aldbrough gas storage facility
LogicaCMG, an IT services company, has secured a contract with Statoil and SSE Hornsea to provide its Prodis software to manage the commercial operations of the UK’s largest onshore gas storage facility, Aldbrough.
El Paso expands 2007 hedge program
El Paso Corporation, one of North America’s largest independent natural gas producers, has announced that it has restructured and expanded the hedge program that supports its natural gas production for 2007.
Industry opposes transparency rules in non-share markets
The European Commission (EC) doesn't need to act to improve transparency in financial markets, a poll of industry members found.
Spectron snares global weather head from Icap
London-based energy broker Spectron Group has hired Mike Scharfenberger as its global head of weather.