News/Commodities
JP Morgan Chase markets CDO with equity puts in Asia
JP Morgan Chase has begun marketing synthetic collateralised debt obligations (CDOs) with embedded equity put options to a small number of investors in Asia-Pacific. This type of structure is aimed at sidestepping the sometimes-thorny issue of…
Weather risk market remains buoyant, claims Clemmons
The global weather risk market is still healthy, despite high profile departures from the market, speakers told delegates at Risk 's WeatherRisk conference in London today.
Gensec structures first South African weather derivatives contract
ZZ2 Ceres, one of South Africa’s largest fruit and vegetables businesses, has become the first company in the country to use weather derivatives. Its frost protection contract was structured by Gensec Bank, and runs from October 14 to November 30 2002…
Fimat Futures bulks-up commodities business in Hong Kong
In anticipation of an activity surge in commodity derivatives trading by Hong Kong investors, the Hong Kong arm of international brokerage firm Fimat plans to establish a dedicated commodity trading desk by the end of the year, according to Emmanuel…
Eubank punches for Risk Waters Group's World Trade Center fund
Fancy a pair of boxing gloves signed by former world middleweight champion Chris Eubank? Then put in your bid with a call to Drew Stephens, chief operating officer atSpectron Group, the London energy broker, on 44 207 074 0799.
Icap acquires APB Energy
Inter-dealer broker Icap has acquired APB Energy for an initial cash payment of $15.5 million. Further payments, which are contingent on the future earnings of the business, will be made over four years, Icap said. APB brokers gas, electricity, weather…
From Enron to Iraq
The freight derivatives market has ridden out the loss of market-maker Enron, and now all eyes are turning to the effect of military action against Iraq. By Kevin Foster
Ferc unable to regulate OTC derivatives, admits own official
Charles Whitmore, special assistant in the office of market oversight at the Federal Energy Regulatory Commission (Ferc), told an EPRM enterprise-wide risk management conference in Houston, Texas, yesterday, that he did not think the Ferc was capable of…
Icap signs letter of intent to buy out APB
The world’s largest inter-dealer broker, Icap, has entered preliminary agreement to buy out privately owned Kentucky-based energy broker APB Energy. APB brokers gas, electricity, weather and coal derivatives on its online platform, True Quote, and…
OTC power market down by 60% as firms switch to regulated markets
There has been a sharp decline in the number of over-the-counter gas and power contracts since the demise of Houston-based energy trader Enron. Firms initiating power trades are increasingly conducting them via exchanges or through their clearing…
Boston-based AIR releases terrorism risk model
AIR Worldwide, a Boston-based catastrophe and weather risk modelling company, today released what it claims is the first commercially available terrorism risk model. The model estimates the financial impact of insured property and workers' compensation…
September 11 accelerated energy sector woes, says S&P
Last year’s September 11 terrorists attacks that resulted in the destruction of New York's World Trade Center may have accelerated the onset of the US energy sector’s problems, according to a new report by Standard & Poor’s.