The significant need for risk management tools in the energy market because of credit concerns and the loss of so many energy merchants and proprietary trading platforms has led to the apparent success of the New York Mercantile Exchange’s ClearPort trading and clearing system. In its first year of operation, the system has cleared three million off-exchange energy futures contracts, Nymex said on Thursday.
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Reliant Unveils Natural Gas Index, Risk Management Tools
Reliant Energy Wholesale Group unveiled a new natural gas index and associated financial risk management instrument, designed to enable natural gas traders to better hedge risk for their companies and portfolio clients during the heating season. The Weather-Sensitive Gas Load Index (WGLI) measures current and forecasted residential and commercial natural gas consumption. To work with the index, Reliant has developed a financial instrument tailored for gas traders, called the WGLI Swap.
November 21, 2001
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