Banks pull back from market-making

- Risk Staff
- 12 Mar 2009

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Banks' reticence to get involved in market-making, evident since last September, is leading to widespread concerns over liquidity in the energy markets, say experts.

"There has been a huge structural pullback in market making," says Vincent Kaminski, a professor at Rice University.

"Many traders are worrying about marking to market their positions in a market that is becoming less and less transparent for transactions with longer tenors," he says. "Participants that are still active in these

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