Senate Agriculture Committee Chair Blanche Lincoln (D-AR) Friday came out with a much-anticipated bill aimed at reining in commodities market speculation by forcing over-the-counter (OTC) derivative trades onto regulated exchanges and clearinghouses. As expected, it would include an exemption for large commercial traders who use derivatives to hedge the risk associated with trading of physical products.
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Senate Ag Panel Offers Broad New OTC Reforms
Senate Agriculture Committee Chair Blanche Lincoln (D-AR) Friday came out with a much-anticipated bill aimed at reining in commodities market speculation by forcing over-the-counter (OTC) derivative trades onto regulated exchanges and clearinghouses. As expected, it would include an exemption for large commercial traders who use derivatives to hedge the risk associated with trading of physical products.
Senate Ag Panel Offers Broad New OTC Reforms
Senate Agriculture Committee Chair Blanche Lincoln (D-AR) Friday came out with a much-anticipated bill aimed at reining in commodities market speculation by forcing over-the-counter (OTC) derivative trades onto regulated exchanges and clearinghouses. As expected, it would include an exemption for large commercial traders who use derivatives to hedge the risk associated with trading of physical products.
‘Noise’ Continues to Surround RBS Sempra Trading Unit Sale
Speculation continues unabated regarding the fate of RBS Sempra Commodities, which has been close to a deal to dispose of the 51% interest of the Royal Bank of Scotland (RBS) in its joint venture trading operation with San Diego-based Sempra Energy. Sempra appeared to be further away on Tuesday from making an announcement on the sale of the bank’s share, which Sempra has first-rights to obtain itself.
‘Noise’ Continues to Surround RBS Sempra Trading Unit Sale
Speculation continues unabated regarding the fate of RBS Sempra Commodities, which has been close to a deal to dispose of the 51% interest of the Royal Bank of Scotland (RBS) in its joint venture trading operation with San Diego-based Sempra Energy. Sempra appeared to be further away on Tuesday from making an announcement on the sale of the bank’s share, which Sempra has first-rights to obtain itself.
Occidental Petroleum to Buy Citigroup Trading Unit
Los Angeles-based independent Occidental Petroleum Corp. (Oxy) has signed an agreement to purchase Phibro LLC, Citigroup Inc.’s commodities trading unit, for approximately $250 million, Oxy said Friday.
Oxy to Buy Citigroup Trading Unit
Los Angeles-based independent Occidental Petroleum Corp. (Oxy) has signed an agreement to purchase Phibro LLC, Citigroup Inc.’s commodities trading unit, for approximately $250 million, Oxy said Friday.
CFTC’s Gensler Presses for Comprehensive Derivatives Regulation
While saying he favors limiting excess commodities market speculation through position-limit authority, new Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler declined to attribute the recent rise in oil prices to a return of speculative fever. Responding to questions before a Senate Appropriations subcommittee Tuesday, he said “part of what we’re seeing is confidence coming back into the market.”
Floating Liquefaction Proposed for British Columbia
Teekay Corp. and Merrill Lynch Commodities Inc. have agreed to develop a project to convert the SS Arctic Spirit into a floating liquefied natural gas (LNG) plant to be moored alongside a pier near Kitimat, British Columbia, Teekay said Thursday. The facility would be a stone’s throw from a proposed land-based liquefaction terminal.
Floating LNG Liquefaction Proposed for British Columbia
Teekay Corp. and Merrill Lynch Commodities Inc. have agreed to develop a project to convert the SS Arctic Spirit into a floating liquefied natural gas (LNG) plant to be moored alongside a pier near Kitimat, British Columbia, Teekay said Thursday. The facility would be a stone’s throw from a proposed land-based liquefaction terminal.