NZX Launches Natural Gas Market


NZX Launches Natural Gas Market

http://www.mondovisione.com/media-and-resources/news/nzx-launches-natural-gas-market/#85732

Date 02/09/2013
NZX is pleased to announce that having received the necessary operating approvals, its spot gas market is now open for trading.
The launch of NZX’s gas market has been dependent on successful completion of an Interconnection Agreement with Maui Development Limited, the owner and operator of the Maui Pipeline.
The market features monthly, weekly, daily and intraday products focused on a ‘virtual welded point’ on the Maui pipeline. The chosen architecture is intended to concentrate liquidity and is compatible with existing shipping arrangements.
The final rules for the new market are now available, and participants may now register for the market, and commence trading.
NZX Head of Energy Erich Livengood commented: “We are delighted to receive the necessary operating approvals for the new gas market, and look forward to working closely with industry participants in coming months to grow and develop this important market.
“Potential participants will now be reviewing the final rules and market requirements, and we will be working with them to register and begin trading from today.”
The market is hosted at gas.nzx.com
NZX initially announced it would operate a gas market on 5 March 2013.
NZX continues to look for opportunities to use its existing market operations infrastructure to enable a broad range of industries to better manage their risk.

Global Bank Selects OptionsCity for Energy and OTC Trading Solutions


OptionsCity Software, a leading provider of electronic trading solutions, announced today that a Tokyo-based financial institution has deployed OptionsCity Metro and OptionsCity Freeway to its traders in New York and London.

via Pocket http://www.bobsguide.com//guide/news/2013/Jul/30/global-bank-selects-optionscity-for-energy-and-otc-trading-solutions.html July 30, 2013 at 07:19PM

NASDAQ OMX and NGX Announce U.S. Physical Energy Alliance


NASDAQ OMX and NGX Announce U.S. Physical Energy Alliance
Press Release: The NASDAQ OMX Group, Inc. – Tue, Jul 9, 2013 10:05 AM EDT

http://finance.yahoo.com/news/nasdaq-omx-ngx-announce-u-140503566.html

NEW YORK and CALGARY, July 9, 2013 (GLOBE NEWSWIRE) — NASDAQ OMX Commodities and Natural Gas Exchange Inc. (NGX), a wholly-owned subsidiary of TMX Group, today announced that they have entered into a strategic alliance (the Alliance). The Alliance involves the NASDAQ OMX US physical energy entity, NASDAQ OMX Commodities Clearing Company (NOCC), a wholly-owned subsidiary of The NASDAQ OMX Group, Inc., and the physical energy exchange and clearinghouse of NGX, which serves more than 250 contracting parties in the US and Canada.
Together NGX and NOCC will provide a premier solution for transacting in physical energy in the US, helping customers maximize collateral efficiency, and enabling increased transparency and market liquidity. The Alliance will leverage NGX’s established US natural gas trading and clearing expertise combined with NOCC’s physical power know-how. NGX will offer trading and clearing services for the Alliance and NOCC will contribute account management, product development, and scheduling resources.
“Adding physical power products with an established organization such as NOCC is a natural addition to our successful physical natural gas business in the US,” said Jim Oosterbaan, President of NGX. “We expect this Alliance to help new and existing NGX customers to improve their liquidity and collateral efficiencies through cross commodity netting.”
“NGX is strategically aligned with our physical power business and their complementary natural gas products present a great opportunity to leverage our combined experience and capability in this unique regulatory environment,” said Magnus Haglind, Head of US Commodities for NASDAQ OMX.
Subject to regulatory approval, NGX, a recognized exchange and clearing agency in Canada and a registered U.S. Foreign Board of Trade and Derivative Clearing Organization, will list and clear physical power futures contracts based on NGX’s existing US physical natural gas futures contracts. As a result, contracting parties will benefit from:
Collateral efficiencies under existing NGX margining rules via spread credits and cross-commodity netting
Regulatory certainty
Improved liquidity and distribution in Canada and the U.S.
Introduction of physically cleared power products to WebICE through NGX’s alliance with the InterContinental Exchange, Inc.
NGX expects to list the physical power futures contracts in September in concert with the novation of NOCC’s remaining physical power contracts to NGX. The NGX physical power futures will initially be listed exclusively for the ERCOT (Texas) market, expanding later into the WECC region.
About TMX Group (TSX:X)
TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at http://www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 23 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99+% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,300 listed companies worth more than $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit http://www.nasdaqomx.com. Follow us on Facebook (www.facebook.com/NASDAQ) and Twitter (www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
About NASDAQ OMX Commodities Clearing Company
NASDAQ OMX Commodities Clearing Company provides trading opportunities to its physical power and natural gas trading counterparties, supported by sophisticated credit and risk management operations. It is part of NASDAQ OMX Commodities, which is a trademark of the NASDAQ OMX Group, Inc.
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.

NASDAQ OMX Commodities Europe is the trade name of NASDAQ OMX Oslo ASA which is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Commodities Europe are subject to clearing with NASDAQ OMX Clearing.
NOS Clearing ASA is the leading clearing house for the freight market and a specialist clearing provider to the commodities markets. The company is wholly owned by the NASDAQ OMX Group Inc. The clearinghouse, which is situated in Oslo, has more than 300 members.
NASDAQ OMX Clearing is the trade name of NASDAQ OMX Stockholm AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about our capital return initiatives. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX’s control. These factors include, but are not limited to, NASDAQ OMX’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX’s website at http://www.nasdaqomx.com and the SEC’s website at http://www.sec.gov. NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

EurActiv.com : ..


Storebrand, a financial services group in Norway, said that it was pulling out of the investments in 13 coal and six oil sands companies to ensure “long-term stable returns” because these stocks will be “financially worthless” in the future.

via Pocket http://www.euractiv.com/energy/rabobank-storebrand-boost-fossil-news-529155 July 09, 2013 at 06:59PM

Citigroup has made four hires to its London power and gas sales team, as the US investment bank continues to build its commodities arm while its peers scale back in the sector


Citigroup has made four hires to its London power and gas sales team, as the US investment bank continues to build its commodities arm while its peers scale back in the sector

http://www.efinancialnews.com/story/2013-07-02/citigroup-commodities-four-hires?omref=email_TopStories

Citi adds four to growing commodities roster

Suzi Ring

02 Jul 2013

Citigroup”>Citigroup has made four hires to its London power and gas sales team, as the US investment bank continues to build its commodities arm while its peers scale back in the sector, Financial News has learnt.

Citi adds four to growing commodities roster

Branko Pribicevic will join Citi in September from energy trading company Vitol to take up the role of head of European power and gas sales and origination, according to two people familiar with the situation. He has been at Vitol since 2009, prior to which he was at Morgan Stanley, according to his LinkedIn profile. Pribicevic did not respond to a LinkedIn request for comment.

Colin March is set to join Citi from Morgan Stanley. According to the UK’s Financial Services Register he had been at Morgan Stanley since 2007 but left the bank last month. March could not be reached for comment.

Former Goldman Sachs executive director Diana Beverly and Benjamin Davis from Macquarie Bank will also join Citi’s power and gas group in the coming months. Beverly was at Goldman Sachs for six years until 2012, according to one person familiar with the situation. Davis has been at Macquarie since 2009, according to the Financial Services Register.

Beverly did not respond to a LinkedIn request for comment. There were no contact details available for Davis.

 

Citi has been taking steps to grow its commodities arm at a time when other investment banks have been doing the opposite due to increased capital requirements and tighter restrictions around proprietary trading. The Wall Street Journal reported last month that Morgan Stanley plans to cut 10% of the staff in its commodities unit, or about 30 jobs.

Deutsche Bank has also been scaling back its commodities business in some areas. This year the bank has put parts of its European physical gas and power books up for sale, which has led to about 10 traders being cut this year, according to a person familiar with the plans.

Other departures from the bank’s commodities business in recent months include David Silbert, global head of commodities; Ray Key, global head of metals trading; and John Redpath, global head of oil products and agricultural trading.

In contrast, Citi recently hired a senior metals duo from UBS to lead its global metals sales and base metals trading divisions – moves first revealed by Financial News. Rick McIntire will join Citi from UBS as global head of metals sales this month, while Dylan Morgan joined the bank from UBS as co-head of base metals trading in May.

 

Other notable hires include Jose Cogolludo, the former BNP Paribas global head of sales and marketing for commodity derivatives, who joined Citi as global head of commodities sales at the close of last year; and Kris Van Broekhoven, who joined from Deutsche Bank as global head of commodity finance in September.

According to research firm Coalition, Citi was ranked as a “tier three” investment bank commodities sales and trading in its 2012 investment bank league table. Tier three means the bank ranks between seventh and tenth among the top ten investment banks for sales and trading revenue.

Just three of 10 of the largest investment banks in commodities trading increased revenues from this business last year, according to a JP Morgan report published in April. Goldman Sachs, Morgan Stanley, Macquarie Group, Deutsche Bank, Barclays, Standard Chartered, Credit Suisse, RBC Capital Markets, BNP Paribas and UBS shared total commodities trading revenues of $6.74bn last year, down from $7.04bn during the previous 12 months. Of these, only Macquarie, Barclays and RBC saw figures increase.

JP Morgan did not include itself or Citi in the April report.

Transition from Swaps to Futures changing the global energy markets trading landscape


Before the Dodd-Frank Act was enacted, the choice for energy market traders was between swaps and futures, two separate, distinct markets, but due to new regulatory requirements, trading is increasingly occurring in listed-futures instruments, a dramatic structural shift forcing market participant

via Pocket http://www.commodities-now.com/reports/power-and-energy/14825-transition-from-swaps-to-futures-changing-the-global-energy-markets-trading-landscape.html July 01, 2013 at 06:36PM

Breakthroughs Could Solve Renewable Energy-Electrical Grid Integration


Grid integration is the million-dollar question for clean energy – as renewables, electric vehicles, and the smart grid scale up, how will they impact reliability? Well, we now have a million-dollar answer from the Department of Energy’s National Renewable Energy Laboratory (NREL).

via Pocket http://theenergycollective.com/silviomarcacci/241816/breakthrough-nrel-lab-could-solve-renewables-grid-integration-problems June 29, 2013 at 02:02PM

Abengoa Opens Pilot Plant That Turns Waste Into Biofuels


Abengoa SA (ABG), Spain’s largest biofuels producer, inaugurated a demonstration plant that can make bioethanol from municipal solid waste, its first using the technology. The facility in Babilafuente, central Spain, can treat 25,000 tons of municipal solid waste to generate as much as 1.

via Pocket http://www.bloomberg.com/news/2013-06-27/abengoa-opens-pilot-plant-that-turns-waste-into-biofuels.html June 29, 2013 at 01:57PM

Drax Plan to Switch to Wood From Coal May Get $160 Million Loan


The European Investment Bank is considering whether to approve a loan to Drax Group Plc (DRX) for its plan to convert Britain’s largest coal-fired power station to burn wood.

via Pocket http://www.bloomberg.com/news/2013-06-27/drax-plan-to-switch-to-wood-from-coal-may-get-160-million-loan.html June 29, 2013 at 01:54PM

Smart Grid Revenue To Hit 73 Billion Annually By 2020


If you’re placing bets on which sector of the clean energy industry is primed for the strongest growth, you may want to slide a few more chips toward the smart grid.

via Pocket http://theenergycollective.com/silviomarcacci/239186/smart-grid-market-revenue-will-hit-73-billion-annually-2020 June 23, 2013 at 01:15PM

OTC Clearing and Regulations

My views on OTCs and Regulations

Knowledge Problem

Commentary on Economics, Information and Human Action

northoceanscm

4 out of 5 dentists recommend this WordPress.com site

Aditya Ladia's Blog

Forex, Investment and Finance

Soltis Consulting, Inc.

Business Concepts, Ideas, and Information

intradaynifty

An Endeavor To Explore The Uncertanity

All About Cyber Security and Financial Technology and Beyond

The Future of FinTech and Cybersecurity are Interlocked: Creating the Secure Future of Financial Technology Today

symphony

Read about latest trends in Algo Trading in India or visit our website symphonyfintech.com

Trading Smarter

Thought Leadership, Insight and Product Information from TradingScreen

Tales from a Trading Desk

Noise from an Investment Bank

The Main Street Analyst

New York City Magazine! Marketing, Social Media, Business - Connecting The Dots!

NPA Computers

Bringing you info about the latest on Internet Technology

duanetilden

The Latest News on International Energy Trends, Green Building, Sustainability, A&E and Social Media

Trade News in Brief

International Economic Affairs & Relations / Regional & International Organizations / Global Commerce & Business

Letters from Nopeville

Nothing to do here

SingleDealerPlatforms.Org

The Single Dealer Platform Community

Carl A R Weir's Blog

A Cross Asset Connectivity and Finance WordPress.com site

%d bloggers like this: