Brady facilitates automated trade entry and reconciliation with Nasdaq OMX

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via Pocket July 17, 2013 at 07:40PM

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

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.

Salt River Project Agricultural Improvement and Power District Selects Allegro Energy Trading and…

Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today that Salt River Project Agricultural Improvement and Power District (SRP) has chosen the Allegro 8 platform to support their energy risk management organization.

via Pocket June 15, 2013 at 07:12PM

European energy exchanges compete for Turkish growth

ISTANBUL May 21 (Reuters) – European energy exchanges ICE Endex and EEX are competing for a slice of Turkey’s booming power market as the country prepares to open its first electricity exchange, executives from the companies said on Tuesday.

via Pocket May 23, 2013 at 07:34PM

Commodities traders acquire power stations

Commodities traders acquire power stations
Javier Blas, Commodities Editor –
The Swiss-based commodities traders are expanding into assets, buying or leasing anything from refineries to pipelines and terminals. Now Vitol, the largest oil trader, has bought a power station, signalling the return of the independent trading houses to the power generation sector. The acquisition suggests the return of the independent trading houses to the power stations sector, roughly 10 years after the collapse of the US electricity trading industry, which included names such as Enron, Dynergy, Mirant and Williams.

Kroger to power distribution center with spoiled food

Kroger has come up with a solution that will put a dent in the food waste generated by the supermarket chain — it will turn it into biogas energy that powers a distribution center. Kroger is the biggest supermarket chain in the U.S. with 2,400 supermarkets in 31 states.

via Pocket May 23, 2013 at 07:06PM

EEX Transparency Platform To Be Expanded With Power Market Data From Switzerland – Swisselectric Becomes New Partner

See on Scoop.itThe FIX Protocol and multi asset electronic trading.

The European Energy Exchange (EEX) and swisselectric have concluded an agreement whereby the swisselectric members, Axpo Group (AxpoPower AG, Axpo Trading AG, Centralschweizerische Kraftwerke AG), Alpiq and BKW will report generation and storage…

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EEX Transparency Platform to be Expanded with Power Market Data from Switzerland – swisselectric becomes New Partner

EEX Transparency Platform to be Expanded with Power Market Data from Switzerland – swisselectric becomes New Partner

The European Energy Exchange (EEX) and swisselectric have concluded an agreement whereby the swisselectric members, Axpo Group (Axpo Power AG, Axpo Trading AG, Centralschweizerische Kraftwerke AG), Alpiq and BKW will report generation and storage data from Switzerland on the EEX “Transparency in Energy Markets” transparency platform ( from the end of 2013. The integrated Swiss electricity suppliers that are members of swisselectric produce more than 50 TWh annually, covering a large part of the Swiss power generation (2012: 68 TWh, according to the International Energy Agency).
“We are pleased that, with swisselectric, we have found an important partner for the transparency platform”, confirms Steffen Köhler, Chief Operating Officer of EEX. “As a European power hub, Switzerland is of central importance for trading. And the publication of power data from Switzerland further promotes the standardisation of transparency publications“.
By using the “Transparency in Energy Markets” platform, the swisselectric members are complying with their obligation to publish insider information in accordance with the European REMIT ordinance and the Swiss Electricity Supply Regulation (StromVV). They require, amongst other aspects, the publication of data on the capacity, use and availability of plants for the generation, storage, transmission and consumption of electric power.
The market participants and the interested public will benefit from a uniform publication procedure and also from the comparability of data from Germany/Austria, the Czech Republic and Switzerland. Furthermore, a new data section will be established on the transparency platform with the publication of data on power storage.
The companies intend to publish data on both power generation and power storage. In accordance with the established publication procedure, data on the installed capacity, the planned and actual production as well as planned and unplanned non-availabilities of the reporting power plants in the statutory and voluntary segment will be reported on the platform. In addition to the installed pumping capacity of the pumped storage power plants, the publication of data on power storage will comprise the filling levels of the reservoirs as well as planned and unplanned non-availabilities.
In addition to the data publication, the Transparency Platform will be able to report these to the Agency for the Cooperation of Energy Regulators (ACER) and the national authorities, including the Swiss Federal Electricity Commission ElCom.
“Transparency in Energy Markets” is the neutral platform for energy market data which fulfils the statutory publication requirements and implements voluntary commitments of market participants. The transparency platform for generation and consumption data ( was established by EEX together with the four German transmission system operators – 50Hertz Transmission GmbH, Amprion GmbH, TenneT TSO GmbH and TransnetBW GmbH and the Austrian transmission system operator Austrian Power Grid AG. The platform is developed further and expanded in cooperation with the following associations; BDEW, Oesterreichs Energie, VKU, VIK, the German Federal Ministry of Economics and the Federal Network Agency. EEX is in charge of the operation of the platform, which comprises plausibility checking, anonymisation, aggregation and publication of the data reported. At present, 47 companies from Germany, Austria and the Czech Republic submit data to the platform.

Kelag Group Selects SunGard’s Aligne to Manage its Power & Gas Portfolio, Risk Management and…

Kelag Group, one of the leading energy service providers in Austria, has selected SunGard’s Aligne to manage its power and gas trading, physical operations and risk management in the Austrian, German and South Eastern European markets.

via Pocket February 11, 2013 at 04:18PM

Fraud-free cap and trade: What California learned from Europe

Drawing parallels between financial markets and carbon markets is easy.

via Pocket January 21, 2013 at 02:21PM

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