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  1. NYMEX acquires Houston firm for electronic checks of energy trades

    By the OGJ Online Staff HOUSTON, Dec. 12 -- The New York Mercantile Exchange said Wednesday it acquired a Houston company to provide electronic confirmation of energy trades for its clients. During a meeting with Houston energy reporters, Exchange Pres. J. Robert Collins Jr. declined to provide additional details of the acquisition of privately held Confirmation Clearing Corp., which was finalized Tuesday. Chris Papousek, president, founded Confirmation Clearing in September 2000 to transmit electronic data to match instantly details of price, quantity, and other terms of energy trades between parties. Formerly with Texas Utilities Corp.'s energy trading arm, Papousek stepped out on his own by designing a process for electronically comparing data files generated by both participants in a trade to ensure that all of the details match or else pinpoint any discrepancies. As a result, the trading parties are able to iron out potentially costly errors that otherwise might not become evident until some future settlement date, he told OGJ Online. The process is much faster and more accurate than the prevalent system of faxing data between parties, said Collins. NYMEX became interested in Confirmation Clearing when it "approached some of our clients," he said. Through the acquisition, Papousek joined NYMEX as managing director of its over-the-counter (OTC) services. NYMEX plans to expand that operation to provide more "back office" services to clients. That will permit more small companies to participate in energy trading with less cost or staff additions, said Collins. He said NYMEX also will expand its measures for credit intermediation through clearing services and trading tools for more OTC energy offerings, beginning with expansion of natural gas in the first quarter of 2002. As a first step, NYMEX last month began offering exchange of futures for swap transactions in the OTC natural gas market.

    Online Articles

    Online Articles

    Wed, 12 Dec 2001

  2. Watching Government: CFTC's role in cap-and-trade

    The US Commodity Futures Trading Commission expects to actively participate in any federal carbon cap-and- trade regulation, CFTC Chairman Gary G. Gensler told a US Senate committee on Sept. 9.

    Magazine Articles

    Magazine Articles

    Mon, 21 Sep 2009

  3. Crude trades in tight price range

    After trading over a fairly tight range for more than 4 months on the New York Mercantile Exchange, the front-month crude contract finally broke through to the upside only to trade within an even tighter range of $79-80/bbl through 19 days in late October and early November.

    Magazine Articles

    Magazine Articles

    Mon, 23 Nov 2009

  4. Crude trades in tight price range

    After trading over a fairly tight range for more than 4 months on the New York Mercantile Exchange, the front-month crude contract finally broke through to the upside only to trade within an even tighter range of $79-80/bbl through 19 days in late October and early November.

    Online Articles

    Online Articles

    Mon, 16 Nov 2009

  1. Unauthorized trades push price peaks

    Magazine Articles

    Magazine Articles

    Mon, 13 Jul 2009

  2. Unauthorized trades push price peaks

    Front-month crude contracts jumped June 30 to “fake” intraday highs of $73.38/bbl on the New York Mercantile Exchange—the highest this year—and $73.50/bbl on the International Petroleum Exchange through unauthorized trades by an employee at a subsidiary of PVM Oil Associates Ltd., London.

    Online Articles

    Online Articles

    Mon, 6 Jul 2009

  3. LNG UPDATE: LNG trade growth to drive vessel demand, set trading patterns

    Increased growth in LNG trade within the next 10 years will directly affect both vessel demand and traditional trading patterns for natural gas worldwide.

    Magazine Articles

    Magazine Articles

    Mon, 21 Aug 2000

  4. MARKET WATCH: Crude prices increase but natural gas trades down

    Crude prices increased Feb. 12 with the front-month contract up 0.5% on the New York market after the Group of 7 (G7) finance ministers from the US, UK, France, Germany, Italy, Canada, and Japan agreed to avoid currency manipulation.

    Online Articles

    Online Articles

    Wed, 13 Feb 2013

  5. MARKET WATCH: Crude trades below $120/bbl as inflation rises

    Energy commodity prices fell Aug. 4, with crude closing at its lowest level since May 5 after briefly trading below $120/bbl on NYMEX, signaling what some say may be the end to the run up in fuel costs this year.

    Online Articles

    Online Articles

    Tue, 5 Aug 2008

  6. Southern Energy trades above offering price

    In a strong market for energy stocks, Southern Energy Inc. opened trading on the New York Stock Exchange Wednesday at $28�, up $6� over the $22/share offering price. Market observers expect an independent Southern Energy to generate better returns and puts the company on a more similar footing with ...

    Online Articles

    Online Articles

    Wed, 27 Sep 2000

  7. NYMEX coal contract begins with 98 trades

    Trading in the long-stalled New York Mercantile Exchange Inc. coal futures contract began Thursday with 98 contracts changing hands by the close of the market. NYMEX spokeswoman Nachamah Jacobovits said the exchange was 'reasonably pleased' with the first day's results.

    Online Articles

    Online Articles

    Thu, 12 Jul 2001

  8. Traditional oil, gas shipping patterns face changes for the 21st Century

    Changing trade patterns and evolving technologies will alter traditional shipping patterns and fleet changes in liquid petroleum product, LPG, and LNG carriers into the 21st Century.

    Magazine Articles

    Magazine Articles

    Mon, 6 Dec 1999

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