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Singapore Exchange (SGX) is consulting the public on the proposed introduction of SGX Uniform Singapore Energy Price (USEP) Quarterly Base Load Electricity Futures.
The futures would be traded on SGX-Derivatives Trading platform and cleared on SGX-Derivatives Clearing house.
This is the first electricity futures to be introduced in Asia. The proposed contract will be a standard, cash-settled futures contract listed as contract quarters (i.e. January to March, April to June, July to September, and October to December).

The SGX USEP Quarterly Base Load Electricity Futures contracts provide a means for market participants in the Singapore electricity market
International law firm Maples and Calder has appointed 12 new partners across its global offices.
The new partners in the Cayman Islands office include Daniel Beckett, Jeremy Bomford, Michael Johns, Jonathon Meloy and Justin Pennay.
James Gaden, Richard Grasby and Terence Ho were appointed to partner in the Hong Kong office.
In the firm's Dublin office, Elizabeth Bradley and John Breslin were elected.
Matthew Gilbert and Tom Katsaros were appointed in the London and Singapore offices, respectively.
Global managing partner Henry Smith says: "Each year, we look forward to the chance to recognise the hard work
Euronext, a wholly owned subsidiary of IntercontinentalExchange Group, has appointed three leaders for its financial derivatives, commodities and cash businesses with effect from 1 April 2014.
Adam Rose will be appointed head of financial derivatives at Euronext. He has a strong track record of growing businesses over more than 20 years in the sales and trading of derivatives at Goldman Sachs and Commerzbank, and in the past seven years as managing director at ABN Amro. Rose has extensive experience in both fixed income and equity derivatives and his most recent roles included head of sales and deputy head of global
Commodities, as measured by the DJUBS Commodities Index, have returned 8.3% year to date to 6 March. This strong performance was driven by one factor – weather, say Alastair Baker and Patrick Brenner, Fund Managers, Schroders…
Whilst weather has the potential to have a negative impact on agriculture prices, 2014 has seen extreme weather put upward pressure on prices. The weather shock came in two parts. First was the severe weather experienced in the US. Demand for natural gas rocketed as it is the primary source of energy used to heat homes in the US.
Inventories of natural gas were
As with any new piece of legislation, things tend to be a bit chaotic at the start and for European market participants EMIR Transaction Reporting has proved no exception.
On 12 February 2014, just 90 days after six different trade repositories had registered with the European Securities & Markets Authority (ESMA), all those engaged in the trading of listed and OTC derivatives within the EU were required to commence reporting.
There have been reports of non-compliance and firms failing to meet the deadline, repositories such as DTCC being so overwhelmed with trade reports that within days they had to limit
IA Englander & Co has agreed to transfer its managed account and prime services platform (MA&PS) to Concept Capital Markets.
IA Englander says its resources are best aligned with other parts of the marketplace and that transferring MA&PS to Concept Capital is in the best interest of its clients and employees.
“Concept Capital has continued to demonstrate a commitment to the prime brokerage business through investments in personnel and technologies that combine to deliver a comprehensive set of solutions for investment managers and those that allocate to them. Our clients could potentially benefit from these solutions and our employees
The US and Luxembourg governments have signed an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).
On 27 February 2014, the Luxembourg and US negotiating teams agreed on the substance of the Model 1 Agreement.
ALFI – the Association of the Luxembourg Fund Industry – has welcomed the signature of this intergovernmental agreement (IGA).
The association has been working hard to ensure that its members are best prepared for the implementation of FATCA. A Q&A document is being finalised by ALFI's FATCA implementation working group. The working group comprises representatives
This week the European Securities and Markets Authority ("ESMA") issued a final report containing new guidelines on collateral management by UCITS ("New Guidelines") (ESMA/2014/294).
As detailed by law firm Maples and Calder, the consultation was held to review the requirements in paragraph 43(e) of the Guidelines that collateral received by a UCITS should be diversified on a country/issuer basis and subject to a 20 per cent issuer limit.
The key points of the New Guidelines are summarised below:
(a) Paragraph 43(e) of the Guidelines is replaced with the New Guidelines to reflect that any UCITS may be fully
Schultze Asset Management (SAM) has listed Class L shares of Schultze Offshore Fund (SOF) on the Irish Stock Exchange (ISE).
SOF is SAM’s flagship vehicle’s offshore feeder.
The ISE listing is expected to bring a wide variety of benefits for certain investors including: (a) enabling a broader range of investors by making it an eligible investment, (b) reducing regulatory constraints for investors in some countries, (c) generally increasing the credibility and profile of the entity, (d) enhancing transparency, and (e) tax considerations.
George Schultze, founder and managing member of SAM, says: “We are very excited about listing SOF’s
The US Commodity Futures Trading Commission’s (CFTC) acting chairman Mark Wetjen and leaders of Canada’s financial regulators have signed a memorandum of understanding (MOU) on the exchange of information in the supervision of regulated entities that operate on a cross-border basis in the US and in Alberta, British Columbia, Ontario or Québec.
Through the MOU, the CFTC and the Canadian authorities express their willingness to cooperate in the interest of fulfilling their respective regulatory mandates regarding derivatives markets.
The scope of the MOU includes markets and organised trading platforms, central counterparties, trade repositories, and intermediaries, dealers, and other market
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