Patrick Reames - Author Archive

Ecom to buy Armajaro’s commodity trading operations

By Marcy Nicholson, Nov 11 (Reuters) – Swiss commodity trader Ecom Agroindustrial Corp Ltd has struck a deal to buy London-based Armajaro Holdings Ltd’s commodity trading operations, creating one of the world’s biggest cocoa and coffee traders. The deal, announced by Ecom on Monday, follows months of negotiations, a source... continue reading

Meet the future leaders of CTRM at the University of Houston

The ISACA student group at the University of Houston is hosting a mixer event for industry professionals and students of the university’s Energy Trading and Risk Management Systems course from 11am to 3pm on December 7th.  The event, titled CommodityFuture, offers CTRM industry professionals the opportunity to meet with students... continue reading

Bart Chilton, CFTC’s hippie poet, is riding into the sunset

Bart Chilton, undoubtedly the most polarizing figure in the CFTC, has just announced that he’s done.  After this morning’s 3-1 vote by the CFTC commissioners  to again impose “speculative” position limits on commodity traders (after the last attempt was shot down by the U.S. District Court of the District of... continue reading

CFTC Tries Again on Commodities Trading Curbs

Wall Street Journal By Andrew Ackerman Nov. 5, 2013 11:58 a.m. ET WASHINGTON—Regulators proposed a new set of limits for large traders of commodities such as oil, gold and sugar, a year after a federal court tossed out an earlier set of rules. The Commodity Futures Trading Commission voted 3-1... continue reading

Shale gas fracking a low risk to public health -UK review

(Reuters) By Kate Kelland LONDON | Thu Oct 31, 2013 11:37am EDT The risks to public health from emissions caused by fracking for shale oil and gas are low as long as operations are properly run and regulated, the British government’s health agency said on Thursday. Public Health England (PHE)... continue reading

Commodity financing in Asia bright spot for banks amid cutbacks

LONDON, Oct 29 (Reuters) – Booming commodity trade financing in Asia is a rare bright spot for Western banks, forced to withdraw from other areas of commodities due to tougher regulation and capital constraints. Commodity revenue for banks has shrunk dramatically in recent years and in the first half of... continue reading

Analysis – Before the flood: Preview of a U.S. market drowning in oil

Reuters UK Edition By Jonathan Leff and Matthew Robinson NEW YORK | Mon Oct 28, 2013 3:40pm GMT The U.S. oil market is getting its first real taste of a remarkable phenomenon that may soon become a permanent reality: an excess of light sweet crude oil. With a swath of... continue reading

America’s oil surge leaving Alaska in the dust, By Dan Springer, Published October 27, 2013 America’s oil boom has the Texas tea flowing, whole new towns being built in North Dakota and, for the first time in decades, the U.S. producing more crude than it imports. But Alaska, a state known for its vast oil resources and... continue reading

Energy Solutions International (ESI) Selected by NATO Support Agency for 5600km European Pipeline and Terminal Network

Houston, Texas – October 23, 2013:  Energy Solutions International (ESI) has been selected by NATO Support Agency (NSPA) and Central Europe Pipeline System Programme Office (CEPS PO), to implement an integrated Synthesis® and PipelineScheduler® solution across the CEPS fuel pipeline and terminal network. The integrated Synthesis platform will be implemented to meet... continue reading

Goldman third quarter commodity revenue down ‘significantly’ on second quarter

(Reuters) – Goldman Sachs’ (>> Goldman Sachs Group Inc) net revenues in commodities “declined significantly” in the third quarter from the previous three months, the bank said on Thursday, but reiterated its determination to remain in the physical trading business. Speaking on the bank’s third-quarter conference call, Chief Financial Officer Harvey Schwartz... continue reading

Allegro Development Secures Victory in Governance Fight Against Company’s Founder

DALLAS, October 16, 2013 — After a trial in the Court of Chancery of the State of Delaware, Baker Botts L.L.P. client Allegro Development Corporation, a Dallas-based energy trading risk management software company, along with its incumbent CEO and directors, has defeated the founder and majority common stockholder’s bid to... continue reading

Stepped Up Oversight Of Energy Markets May Push Some Trading Firms Out

From Forbes This guest article is by Julie Carey, Cliff Hamal, and Ben Ullman of Navigant Economics Trading in energy commodity markets, including electricity, natural gas, and crude oil, is receiving heightened scrutiny from regulators and being brought before the courts with unprecedented consequences. Hundreds of millions of dollars in... continue reading

Metals stuck in rut; coffee, cocoa best bet in commodities: Jefferies

Reuters By Melanie Burton Metal prices will be stuck in a rut into next year due to festering uncertainty over the timing and scale of tapering in the United States, with soft commodities such as coffee offering a better chance of returns, said Jefferies Bache’s president. Commodity markets had been... continue reading

CFTC’s Bart Chilton Says Now is the Time for “the Do-Badders” to Cheat

From the Los Angeles Times By Andrew Tangel NEW YORK — The federal government shutdown has left the futures markets largely unregulated, raising concerns over fraud and manipulation with a hobbled watchdog, a Commodity Futures Trading Commission official said. Only 28 employees of the agency’s about 700-person workforce are still... continue reading

Should you let a trader mark their own books? Probably not.

A few days ago, the CFTC released this news item: “The U.S. Commodity Futures Trading Commission (CFTC) today filed a civil injunctive enforcement action charging John Aaron Brooks with defrauding an affiliate of a large commercial bank where he then worked by scheming to conceal trading losses from the bank... continue reading

U.S. to overtake Russia as world’s top oil and gas producer

From the Wall Street Journal MarketWatch By Claudia Assis The U.S. is poised to overtake Russia as the world’s largest producer of oil and gas this year, if it hasn’t already, according to a Wall Street Journal analysis.Tapping shale rock for oil and gas fueled the comeback, while Russia has... continue reading