Patrick Reames - Author Archive

Reuters Exclusive: JPMorgan in talks with Mercuria on commodities unit sale

(Reuters) – Fast-growing trading house Mercuria, led by two former Goldman Sachs (GS.N) executives, has become the front-runner to buy the physical commodities unit of JPMorgan (JPM.N), one of the most powerful oil and metals desks on Wall Street, two sources told Reuters. JPMorgan decided to sell its multi-billion dollar... continue reading

More than mining: Anglo sets up trading arm

From Mining.com, by Frik Els   – Diversified mining group Anglo American (LON:AAL) surprised markets and ended 2013 on an exceptional note, as the turnaround plan under new CEO Mark Cutifani gathers pace. The London-listed giant reported robust increases in iron ore, copper, coal and platinum production and long-suffering investors – the... continue reading

Repower Goes Live on further Milestone of Allegro Energy Trading and Risk Management solution

Major Swiss Utilities Company Extends Power Trading with Allegro 8 to Milan Subsidiary... continue reading

Cloud-Based Molecule Software Takes on Legacy ETRM

HOUSTON — /PRNewswire/ — Molecule Software announced today the selection of its software by Vinmar International, a $4Bn global petrochemical marketing and distribution company.  Molecule will be replacing a leading legacy ETRM vendor’s flagship product. Vinmar selected Molecule for its ease of use, cost leadership, and quick implementation.  Said Vishal Goradia, Vinmar... continue reading

‘Burnt out’ EU likely to curb climate goals

By Matt McGrath; Environment correspondent, BBC News – The UK has lobbied hard to have the mandatory 2030 target watered down, saying it would drive up energy bills. The EU executive will also outline a goal on emissions cuts for 2030, set to be 35 or 40% below 1990 levels.... continue reading

Catching up with Molecule Software

I had the opportunity to visit with Sameer Soleja and Sam Parikh from Molecule Software last week and got a look at the latest developments around their trading and risk management solution. As readers may know, Molecule is a Houston-based and relatively new entrant into the ETRM and CTRM technology... continue reading

Goldman’s commodity trade ‘too important’ to quit: CFO

(Reuters) – Goldman Sachs Group Inc (GS.N) reaffirmed its intent to remain in the commodities trading business, deeming it “too important” to clients to exit, a top executive said on Thursday. The bank’s restated determination to retain its vaunted J. Aron trading business, even as some rivals shed physical trading... continue reading

OPCOM selects Trayport®’s GlobalVision Exchange Trading System

London, 9 January 2014 – Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, and OPCOM (the Romanian Power Exchange) today announced that an agreement has been signed for OPCOM to use Trayport systems for the new Romanian electricity market. OPCOM will launch a centralised... continue reading

Looking Back on the Year at Commodity Technology Advisory

As we are nearing the end of 2013, it seems a good time to do a bit of reflection… First of all, I want to send out a heart-felt “Thank You!” to all of our friends and colleagues who have supported the launch and growth of Commodity Technology Advisory. Without... continue reading

A Buyer’s Market?

2013 CTRM market results indicate it’s increasingly a buyer’s market By Patrick Reames – Managing Director When ComTech Advisory released our 2013 CTRM Global Market Size Report a couple of months ago, we were forecasting that market revenues in 2013 would show virtually no growth over 2012. Now that we... continue reading

Commodity traders step up investments as prices decline -Trafigura

From Reuters, Dec 15, 2013 By Dmitry Zhdannikov The golden era for commodities is far from over and declines in previously overheated prices offer opportunities for trading houses to extend ownership of assets while still betting on continued growth in China and Africa, top player Trafigura said. In its first... continue reading

European Lawmakers Vote to Support Carbon Trading

The New York Times By STANLEY REED LONDON — Lawmakers at the European Parliament on Tuesday approved a rescue plan for the European Union’s system for trading carbon-emission credits. Their hope is to revive prices for carbon credits, which have been so low that the system is creating few incentives... continue reading

Open Season on Eagles – The Hypocrisy of this Administration is Stunning

In the summer of 2011, the U.S. Department of Justice brought criminal indictments against three oil companies operating in the Bakken shale region of North Dakota. Those companies, Brigham Oil & Gas, Newfield Production, and Continental Resources were charged with violating the Migratory Bird Treaty Act. Their crimes?  As reported... continue reading

As rivals fade, Goldman Sachs stands firm on commodities

From CNBC.com and Reuters Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron & Company, becoming one of the first banks to enter the commodity markets. A year from now, the Wall Street giant may be one of the last ones standing as... continue reading

ComTech Videos and Working with YouTube

As visitors to this site now know, Gary and I were recently in London and conducted a number of video interviews with CTRM executives.  While these interviews are not necessarily easy to produce, we do think they provide valuable information and insights into the current state of CTRM solution providers,... continue reading

Volcker Rule Set for Vote Next Week

Dealbook – New York Times By BEN PROTESS Federal regulators have reached a tentative agreement to finalize a rule aimed at Wall Street risk-taking, federal officials said on Tuesday, overcoming internal squabbling and an onslaught of Wall Street lobbying that stymied them for years. Five federal agencies plan to approve... continue reading