Energy Hedging in Asia: Market Structure and Trading by Peter Fusaro, Tom James

By Peter Fusaro, Tom James

This booklet specializes in the most recent advancements within the Asia-Pacific neighborhood when it comes to how deregulation and privatization are bringing extra chance to strength businesses. within the mild of those industry alterations, curiosity in power probability administration has grown considerably and is turning into a fiduciary accountability of power businesses. As strength buying and selling, energy exchanges and hedging concepts determine themselves within the oil, energy and gasoline sectors, so then do more moderen derivatives markets emerge in LNG hedging, no matter if derivatives or freight hedging. Fusaro and James, as professional industry practitioners within the area, concentrate on those marketplace adjustments and look at the way forward for Asian strength hedging.

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Sample text

Asia is driving world oil markets today but its energy risk management infrastructure barely exists compared to New York and London. Therefore, this chapter examines both New York’s NYMEX and London’s IPE as well as the smaller Asian oil futures exchanges. The NYMEX and IPE are the two most successful energy futures exchanges in the world. Their characteristics and functions will be discussed in this chapter. Futures exchanges guarantee financial performance. Futures and options contract performance are supported by strong financial systems that are backed by the exchange’s clearing members.

FEOP PRICING: AN ALTERNATIVE TO PLATTS FOR PETROLEUM PRODUCTS The Far East Oil Price (FEOP) Index was developed by Oil Trade Associates, an oil consulting firm, and Reuters in Singapore. The index is a calculated THE ABCs OF ENERGY HEDGING 25 average of daily price levels of benchmark physical oil products and crudes in the Far East based on assessments submitted by the panelists. It offers an accurate and independent contract pricing mechanism for the physical Asian oil markets as the oil trade generates price discovery for its financial products not oil price reporters.

The Asia Pacific market will grow incrementally over the next decade due to rising oil dependency, rising consumption, price volatility, and the rapid growth of the Internet in the region. The active swaps brokers community in Singapore adds to market liquidity be developing two-way markets for buyers and sellers of oil. Another significant difference between Asia and Europe is that OTC contracts are for a shorter time duration than those in the European markets. Asian markets are also more oriented toward plain vanilla swaps rather than more exotic financial instruments and structures, and a shorter trading horizon.

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