Patrick Reames - Author Archive

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

Commodity Trading Advisors, puzzled by Fed, head for third year of losses

From Reuters By Barani Krishnan NEW YORK | Fri Sep 27, 2013 2:23pm EDT (Reuters) – Long-term trend-following hedge funds are heading for a third straight year of losses unless the commodity and financial markets they trade in settle into a more predictable pattern, which does not seem likely given... continue reading

Trivia Question – How many people do CTRM software vendors employee?

The answer:  There are about 4900 people (on a FTE basis) working for CTRM product vendors around the globe, and even more than that if you take into account part-timers and contractors. How do we know that? Look for our inaugural Commodity Technology Advisory 2013 CTRM Global Market Sizing Report... continue reading

Natural Gas Steady Near One-Month Low on Stockpile Outlook

From Bloomberg – By Naureen S. Malik & Christine Buurma – Sep 25, 2013 3:03 PM CT Natural gas futures were little changed in New York on speculation that a supply gain last week may match year-earlier levels, and as traders closed out of October futures positions before expiration tomorrow.... continue reading

CME Plans Swap-Trading Platform

By Jacob Bunge;  The Wall Street Journal CME Group Inc. (CME) said Wednesday it submitted an application to operate a platform for trading swap contracts, adding the world’s largest futures exchange operator to the slate of companies jockeying for business under new financial regulations. CME filed an application with the... continue reading

No, its not “Fracking”

This morning I was asked my thoughts about whether the correct spelling of the shorthand for “hydraulic fracturing” is “fracing” or “fracking”, and I was a bit surprised at my almost visceral reaction to the question. As someone who has spent a not insignificant portion of my youth in the... continue reading

Goldman Sachs CEO says commodities trading is ‘core’ to Bank

(Reuters) – Goldman Sachs Group Inc (GS.N) Chief Executive Lloyd Blankfein made his most public commitment to the bank’s commodity trading business on Wednesday, even as regulators consider measures that may push Wall Street out of physical markets. While rival JPMorgan Chase & Co (JPM.N) decided in July to quit... continue reading

CFTC signals it may tighten rules on high-speed trading

Washington Post By Dina ElBoghdady Federal regulators signaled on Monday that they may more strictly oversee the high-speed trading that’s come to dominate financial markets and impose risk controls in response to a series of market-disrupting technology glitches.The 137-page “concept release” from the Commodity Futures Trading Commission comes at a... continue reading

Sisu Group Adds New Win

Sisu Group, Inc., a small Tulsa-based CTRM vendor who specializes in refined products solutions, announced yesterday that they have licensed their PetroMan product to Hawaii Pacific Energy LLC, a subsidiary of Houston-based Par Petroleum Corp. The company recently purchased the 94,000 bpd Kapolei Hawaii refinery from Tesoro.  According to the... continue reading