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EnergyClear Readies for OTC Services

Houston-based EnergyClear Operations Co. (EOC) late Friday announced an agreement to provide over-the-counter (OTC) clearing services for its corporation. Earlier, EnergyClear Corp. launched a member-owned clearinghouse.

November 4, 2002

Rockies Softness Runs Counter to Mostly Higher Prices

Numbers falling as low as the mid $0.40s in the Rockies and a flat Transco Zone 6-NYC belied an overall stronger cash market Tuesday. Excluding the Rockies and Transco citygate, gains ranged from about a nickel to about 20 cents, with those in the low to mid teens most common.

September 11, 2002

Senate Agriculture Panel to Take New Look at Derivatives Regulation

Sen. Dianne Feinstein’s initiative to regulate trading of over-the-counter (OTC) energy derivatives, which was defeated during the debate over the Senate energy bill last month, has sprung to life again. The California Democrat has persuaded Sen. Tom Harkin (D-IA), who supports her effort and is chairman of the Senate Agriculture Committee, to hold a hearing on the measure.

May 20, 2002

Proposal to Regulate Energy Derivatives Hangs in Senate Limbo

A controversial amendment that seeks to regulate the trading of over-the-counter (OTC) energy derivatives remained in Senate limbo late last week after opposing sides failed to reach an compromise to allow the proposal to come up for a vote.

March 18, 2002

CFTC Chairman Cautions Against Repeal of CFMA

Senate repeal of the Commodity Futures Modernization Act (CFMA), which would subject trading of over-the-counter energy derivatives to greater regulatory oversight, “would rescind significant advances” that have been brought about by the 14-month-old law, and in the end could accelerate flight to overseas markets, warned the head of the Commodity Futures Trading Commission (CFTC).

March 18, 2002

CFTC Chairman Cautions Against Repeal of CFMA

Senate repeal of the Commodity Futures Modernization Act (CFMA), which would subject trading of over-the-counter energy derivatives to greater regulatory oversight, “would rescind significant advances” that have been brought about by the 14-month-old law, and in the end could accelerate the flight to overseas markets, warned the head of the Commodity Futures Trading Commission (CFTC).

March 18, 2002

Second Blast of Cold Air Puts Traders in Buying Mood

Higher Over-the-Counter Access pricing, combined with stronger cash market levels set the tone at the New York Mercantile Exchange early yesterday, and bull traders did not waste the opportunity to pressure the natural gas market higher. After gapping up 6.5 at the opening bell, the April contract tested recent highs at the $2.50-51 mark before closing with a 12.9-cent advance on the day at $2.488.

March 5, 2002

EnergyClear Prepares to Launch OTC Energy Clearing Services

After about a year delay, EnergyClear Corp. (ECC) finally is prepared to launch an over-the-counter energy clearinghouse in the second quarter. A separate operating company, which was formed in December 2000 by the Bank of New York, Prebon Yamane and Amerex, will support one of the first industry-sponsored OTC clearinghouses with comparison, netting and settlement of wholesale energy contracts. Initial products will include various electricity and natural gas forward contracts (see Daily GPI, Dec. 4, 2000).

March 4, 2002

EnergyClear Prepares to Launch OTC Energy Clearing Services

After about a year delay, EnergyClear Corp. (ECC) finally is prepared to launch an over-the-counter energy clearinghouse in the second quarter. A separate operating company, which was formed in December 2000 by the Bank of New York, Prebon Yamane and Amerex, will support one of the first industry-sponsored OTC clearinghouses with comparison, netting and settlement of wholesale energy contracts. Initial products will include various electricity and natural gas forward contracts (see Daily GPI, Dec. 4, 2000).

March 4, 2002

eNymex Died, But Its Soul Lives on in Access

eNymex, as originally conceived is dead, but the idea of providing over-the-counter (OTC) energy products lives on through Nymex Access, a spokeswoman for the New York Mercantile Exchange said Monday in an interview with NGI.

February 12, 2002