Watching Government - Trading EIA

06/14/2004
The New York Mercantile Exchange, UK-based broker ICAP Energy LLC, and Goldman Sachs June 2 launched an electronic market for options pegged to weekly US Energy Information Administration gas storage numbers. A similar over-the-counter (OTC) product for oil inventories is expected this summer.Auction partners say their OTC product will help build liquidity in a credit-strapped merchant energy market still reeling from the Enron Corp. bankruptcy. But analysts and producers aren't sure yet if these new derivatives can help fix the problem.Market participantsICAP won't say who participated in the inaugural auction; it did say, however, that more than 100 interested parties watched on...
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