News
EDF Trading builds its natural gas business in Spain
EDF Trading, the subsidiary of French utility EDF, responsible for wholesale energy market activity, has been granted a licence to trade physical natural gas in Spain and plans to start delivery of physical gas to market counterparties later this year.
ETG Capital opens energy hedge fund
Houston-based hedge fund firm ETG Capital Management has launched an energy fund.
World Energy acquires EnergyGateway
World Energy Solutions, an operator of online exchanges for energy and energy related products, has completed the acquisition of EnergyGateway, a leading online broker of natural gas and electricity for commercial and industrial consumers in the United…
DME reveals initial volumes
The Dubai Mercantile Exchange (DME) has revealed volumes from its first two trading days.
EDF Energy to cut CO2 emissions by up to 60%
UK utility EDF Energy, part of the EDF Group, has committed to reduce the carbon intensity of its electricity generation activities by 60% by 2020, in part by building new nuclear capacity.
UET selects Monaco gas scheduling solution
Gas service company United Energy Trading (UET) has selected NewEnergy Associates’ Monaco solution to facilitate their front to back-office activities.
ETF growth means AUM will top $2 trillion by 2011
The global trend of growth in exchange-traded funds (ETFs) looks set to continue, spurred by a rise in institutional investor participation and geographical growth.
Q-Wixx CDS platform is launched
Q-Wixx, the New York-based electronic platform for trading large portfolios of single-name credit default swaps, saw its formal launch yesterday evening.
USFE to trade government agency debt futures
The US Futures Exchange (USFE), the Chicago-based exchange majority-owned by Man Investments, has announced its plan to trade US government agency debt futures by the end of the year.
Dresdner's head of global finance quits
Garrett Curran, head of Dresdner Kleinwort’s global finance group, left the bank today.
Technical problems affect LIFFE futures trading
Technical problems yesterday morning caused the London International Financial Futures and Options exchange to halt trading of its Euribor and CAC40 futures products.
Australia commits to emissions trading – ASX to launch futures
Following yesterday’s commitment by Australian Prime Minister John Howard to a domestic emissions trading scheme before 2012, the Australian Securities Exchange (ASX) plans to launch a carbon futures market.
Statoil selects Financial Objects’ energy credit risk solution
Norwegian oil & gas company Statoil is to implement Financial Objects’ energycredit solution worldwide. The solution will enable Statoil to manage credit risk across all of its energy trading operations. Installation began in April, and is expected to go…
EOn creates EOn Energy Trading; reveals investment strategy
German utility EOn has announced plans to align its trading and power generation businesses “on more European lines,” according to a company statement, “in order to seize earnings and growth opportunities created by the integration of Europe’s energy…
ICE acquires ChemConnect's commodity business
IntercontinentalExchange (ICE) has agreed to acquire ChemConnect’s commodity trading business. ChemConnect is an electronic marketplace for the $150billion US natural gas liquids (NGLs) and chemicals markets.
More cooperation likely in oil industry
The long term challenge to access and develop new oil reserves is likely to foster greater cooperation between the international majors and some national oil companies, says a report on the sector by Moody's Investors Service, a credit ratings agency.
Financial services dominate CDS market, says GFI market update
Financial services were the busiest sectors of the credit default swap market in May in both the US and Asia, according to a report from US interdealer broker GFI.
Bank of America promotes White to head of global markets
Bank of America has announced the promotion of Mark White to replace Mark Werner as head of global markets at its New York office.
Swiss Re brings first Mediterranean quake bonds
Swiss Re, the Zurich-based reinsurance company, has announced the closing of what it claims is the first Mediterranean earthquake risk bond.