Energy Risk/News
Austrian Energy Exchange launches emissions trading
The Austrian Energy Exchange, EXAA, joined the ranks of European exchanges trading emissions yesterday with its first spot auction of European Union CO 2 allowances (EUAs).
Swiss Re to launch emissions desk
Global reinsurance firm Swiss Re will set up an emissions desk in within a month, says Chris Walker, New York-based managing director of the greenhouse gas risk solutions team at the company.
ECX and Powernext team up on carbon trading
French electricity exchange Powernext and the Amsterdam-based European Climate Exchange (ECX) have agreed to jointly offer carbon futures and spot contracts. The partnership is complimentary, because ECX lists a futures contract and Powernext offers a CO…
Nymex to launch emissions futures on ClearPort
The New York Mercantile Exchange (Nymex) is to introduce sulphur dioxide (SO 2 ) and nitrogen oxide (NOx) futures contracts on Nymex ClearPort on June 19 for the June 20 trading session, the exchange said today.
GFI launches oil and gas broking in London
Inter-dealer broker GFI has opened a London desk to broke crude and gas oil derivatives, including options, the company announced yesterday.
Trayport connects with IPE
London-based trading systems provider Trayport has entered into an independent software vendor partnership with London’s International Petroleum Exchange.
European Commission to examine energy-sector competition
The European Commission (EC) today launched an inquiry into competition in natural gas and electricity markets, in response to concerns from consumers and new market entrants about the development of wholesale markets and limited consumer choice.
Nymex to form Dubai oil futures exchange
The New York Mercantile Exchange (Nymex) and Dubai Holding are to form the Dubai Mercantile Exchange (DME) to trade sour crude and fuel oil in early 2006, the New York exchange announced today.
Clearing service launches for physical power in US
North American Energy Credit and Clearing (NECC), the Clearing Corporation (CCorp) and Atlanta-based commodity-trading platform IntercontinentalExchange (Ice) have launched a physical clearing service for the US energy markets.
Evolution to open Calgary office in July
Energy broker Evolution Markets will open an office in Calgary, the centre of the Canadian energy-trading markets, in early July.
Nord Pool names new head of financial markets, launches new contract
Oslo-based electricity exchange Nord Pool has made two new appointments and is about to launch a new contract for hedging the power price difference between the German and Nordic power markets.
New carbon brokerage targets non-power-sector SMEs
Three senior players in the European emissions trading market have launched Carbon Capital Markets, a broker-dealer service that targets small to medium-sized companies (SMEs) outside the power sector.
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Powernext to launch spot carbon contract in late June
French electricity exchange Powernext will launch its delayed CO 2 emissions spot market on June 24, barring any technical or administrative difficulties among market members.
UK business paying £1bn/year too much for energy
UK businesses are failing to manage energy buying efficiently and as a result are exposed to volatile prices, losing up to £1 billion ($1.81 billion) a year, a new survey has found.
UBS expands energy group and starts trading oil in Canada
UBS Commodities Canada moved into larger Calgary offices in May to accommodate its expanding energy-trading team, including a shift into crude oil. The firm, part of investment bank UBS, has hired its first crude oil trader, its first options trader and…
DrKW launches retail carbon product
Dresdner Kleinwort Wasserstein has paved the way for private investors to gain exposure to the carbon emissions market with a new securitised product.
Spectron brokers first 'clean' spark spread
Energy broker Spectron has facilitated the UK’s first carbon-neutral, or 'clean', spark spread trade.
CME to launch more weather contracts
The Chicago Mercantile Exchange (CME) is set to list weather derivatives contracts for more cities in the US and Europe and to introduce two new types of weather contracts - probably by early July. Demand for CME weather contracts is fast increasing: as…
ABN Amro expands commodity-trading team, opens Singapore office
Dutch bank ABN Amro has made several commodity trading and marketing hires in London and New York, and opened an office in Singapore.
GlobalView technology to support ConfirmHub
US-based GlobalView Software has been chosen as the exclusive technology provider to ConfirmHub, a joint venture by brokers Icap, Amerex Energy and Prebon Energy. ConfirmHub is a post-execution, straight-through processing (STP) trade-confirmation…
Barclays Capital in first Leba carbon index trade
Barclays Capital has completed the first financial carbon trade using the new Leba Carbon Index for "a significant volume" of EU emissions allowances.
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RWE Trading reorganises coal, oil and freight ops
Alex Thistlethwayte has joined RWE Trading, part of German utility RWE, as head of a new department, Global Commodities Trading. He was previously director of oil trading at Deutsche Bank in London and has also traded natural gas at BP. The move is part…