EU Supervision of Energy Derivative Trading PDF Download

Author: Liebrich Hiemstra
Publisher: Edward Elgar Publishing
ISBN: 1035317028
Category : Law
Languages : en
Pages : 215

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Book Description
This timely book provides a detailed analysis of the regulatory landscape of energy derivatives trading in the EU. Liebrich Hiemstra argues that current supervision of the sector is too opaque and identifies how more effective legal remedies can be created to safeguard important legal values.

Author: Liebrich Hiemstra
Publisher:
ISBN: 9789403674339
Category :
Languages : en
Pages : 0

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Book Description

Author: André Dorsman
Publisher: Springer Science & Business Media
ISBN: 3642197094
Category : Business & Economics
Languages : en
Pages : 229

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Book Description
Energy production and supply, as well as sourcing and consumption, are becoming evermore important in a volatile world. In this book, attention is paid to prevalent energy issues from a finance perspective. The topics discussed cover markets, prices, regulations and firms. An international group of authors from both academia and energy practice provides in twelve chapters a state of the art of the energy markets in a finance environment. They do so by discussing the current knowledge and presenting empirical research in this quickly changing and developing field. This book is the first in a planned series on energy at a high scientific level organized by the Centre for Energy and Value Issues (CEVI).

Author: Giuseppe Bellantuono
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 311075245X
Category : Law
Languages : en
Pages : 404

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Book Description
The low-carbon transition is ongoing everywhere. This Handbook, written by a group of senior and junior scholars from six continents and nineteen countries, explores the legal pathways of decarbonisation in the energy sector. What emerges is a composite picture. There are many roadblocks, but also a lot of legal innovation. The volume distils the legal knowledge which should help move forward the transition. Questions addressed include the differences between the decarbonization strategies of developed and developing countries, the pace of the transition, the management of multi-level governance systems, the pros and cons of different policy instruments, the planning of low-carbon infrastructures, the roles and meanings of energy justice. The Handbook can be drawn upon by legal scholars to compare decarbonisation pathways in several jurisdictions. Non-legal scholars can find information to be included in transition theories and decarbonization scenarios. Policymakers can discover contextual factors that should be taken into account when deciding how to support the transition.

Author: Odd-Harald B. Wasenden
Publisher: J W Cappelens Forlag As, Norway
ISBN: 9788202276447
Category : Antitrust law
Languages : en
Pages : 0

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Book Description
This book provides an in-depth analysis of the application of the EU Market Abuse Directive to energy markets. The main provisions of the Market Abuse Directive are the prohibition of insider trading and market manipulation. Due to the close link between market abuse regulation and the need for transparency, this book also covers regulations concerning the disclosure of information. Following the liberalisation of the European energy markets, energy trading has become a significant growth industry. Trading in electricity and gas takes place both bilaterally and through organised marketplaces. In addition to trading in electricity and gas for physical delivery, financial trading - in commodity derivatives contracts related to the underlying commodities -- has become increasingly important. This financial trading allows participants in the physical markets to hedge physical positions. The financial markets are therefore closely linked to the physical markets. In addition, financial energy markets provide opportunities for speculation, which highlights the similarities between these markets and other financial markets. The market abuse regulation applies to trading in financial instruments admitted to trading on so-called regulated markets. Regulated markets for electricity and gas contracts have been established in several European countries and are becoming increasingly important. The market abuse regulation constitutes part of the regulation of financial markets. However, the information of relevance to financial energy markets is generally connected to conditions in the underlying physical markets, and is therefore regulated by the authorities responsible for overseeing the physical markets. Thus, the subjects covered in this book can be seen as a separate field of law -- energy market law -- which combines the traditional disciplines of energy law and stock exchange/securities law. Both the markets and the regulations are experiencing rapid developments. In addition to analysing the provisions already in force, this book also provides a normative contribution to the development of this discipline of law.

Author: Petri Mäntysaari
Publisher: Springer
ISBN: 3319165135
Category : Law
Languages : en
Pages : 621

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Book Description
This book aims to describe the mechanisms of the internal wholesale electricity market in terms of the legal tools and practices used by electricity producers, the most important market participants. In this regard, the focus is on Northwestern Europe. Because of the book’s functional perspective, it is not limited to the external regulation of electricity markets at the EU level and also describes the business models and practices employed by electricity producers. Both the physical and financial marketplaces are examined and topics including electricity supply, balancing, transmission and derivatives are covered. The target for the completion of the EU’s internal electricity market was 2014. The internal wholesale electricity market is very important not only for electricity producers, suppliers and major end consumers but also for network operators, marketplace operators, electricity technology firms, investment firms and market regulators.

Author: Tom Kokkola
Publisher:
ISBN: 9789289906333
Category : Banks and banking, Central
Languages : en
Pages : 369

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Book Description
"This book is designed to provide the reader with an insight into the main concepts involved in the handling of payments, securities and derivatives and the organisation and functioning of the market infrastructure concerned. Emphasis is placed on the general principles governing the functioning of the relevant systems and processes and the presentation of the underlying economic, business, legal, institutional, organisational and policy issues. The book is aimed at decision-makers, practitioners, lawyers and academics wishing to acquire a deeper understanding of market infrastructure issues. It should also prove useful for students with an interest in monetary and financial issues."--Introduction (Pg. 20, para 8).

Author: Iris Marie Mack
Publisher: John Wiley & Sons
ISBN: 1118339339
Category : Business & Economics
Languages : en
Pages : 309

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Book Description
A comprehensive overview of trading and risk management in the energy markets Energy Trading and Risk Management provides a comprehensive overview of global energy markets from one of the foremost authorities on energy derivatives and quantitative finance. With an approachable writing style, Iris Mack breaks down the three primary applications for energy derivatives markets – Risk Management, Speculation, and Investment Portfolio Diversification – in a way that hedge fund traders, consultants, and energy market participants can apply in their day to day trading activities. Moving from the fundamentals of energy markets through simple and complex derivatives trading, hedging strategies, and industry-specific case studies, Dr. Mack walks readers through energy trading and risk management concepts at an instructive pace, supporting her explanations with real-world examples, illustrations, charts, and precise definitions of important and often-misunderstood terms. From stochastic pricing models for exotic derivatives, to modern portfolio theory (MPT), energy portfolio management (EPM), to case studies dealing specifically with risk management challenges unique to wind and hydro-electric power, the bookguides readers through the complex world of energy trading and risk management to help investors, executives, and energy professionals ensure profitability and optimal risk mitigation in every market climate. Energy Trading and Risk Management is a great resource to help grapple with the very interesting but oftentimes complex issues that arise in energy trading and risk management.

Author: Martha M. Roggenkamp
Publisher: Intersentia nv
ISBN: 9050953174
Category : Electric power distribution
Languages : en
Pages : 338

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Book Description
The liberalisation of the electricity sector has changed the way in which electricity is traded. De facto or legal vertical monopolies are gradually abandoned and new participants have entered the market. At the wholesale level, one of the important developments is the establishment of organised electricity markets, i.e. electricity power exchanges. This book analyses the role and evaluates the impact of these new organised markets, which until now received little attention. The introduction provides an overview of the developments on EC level as this creates the legal environment within which power exchanges operate. The implementation of the EC Electricity Directive has inter alia resulted in a commodization of electricity trading. Thereupon the development of power pools and electricity exchanges is discussed as well as the products which can be traded. Subsequently, the development of the most important national and/or regional exchanges in Europe will be examined. National experts will analyse the role of power exchanges in the Nordic countries, the United Kingdom, the Netherlands, Germany, France, Austria, Spain and Italy. The authors analyse the most important developments in their jurisdictions according to a fixed outline (e.g. implementation of the EC Electricity Directive, market structure, emergence and functioning of the organised market, products traded and the impact of cross-border trade) which allows for a comparative analysis and facilitates understanding. Finally, some conclusions with regard to the establishment of a single electricity market will be presented as well as some future developments.

Author: Niamh Moloney
Publisher: Oxford University Press
ISBN: 0192583417
Category : Law
Languages : en
Pages : 993

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Book Description
Over the decade or so since the global financial crisis rocked EU financial markets and led to wide-ranging reforms, EU securities and financial markets regulation has continued to evolve. The legislative framework has been refined and administrative rulemaking has expanded. Alongside, the Capital Markets Union agenda has developed, the UK has left the EU, and ESMA has emerged as a decisive influence on EU financial markets governance. All these developments, as well as the Covid-19 pandemic, have shaped the regulatory landscape and how supervision is organized. EU Securities and Financial Markets Regulation provides a comprehensive, critical, and contextual account of the intricate rulebook that governs EU financial markets and its supporting institutional arrangements. It is framed by an assessment of how the regime has evolved over the decade or so since the global financial crisis and considers, among other matters, the post-crisis reforms to key legislative measures, the massive expansion of administrative rulemaking and of soft law, the Capital Markets Union agenda, the development of supervisory convergence as the means for organizing pan-EU supervision, and ESMA's role in EU financial markets governance. Its coverage extends from capital-raising and the Prospectus Regulation to financial market intermediation and the MiFID II/MiFIR and IFD/IFR regimes, to the new regulatory regimes adopted since the global financial crisis (including for benchmarks and their administrators), to retail market regulation and the PRIIPs Regulation, and on to the EU's third country regime and the implications of the UK's departure from the EU. This is the fourth edition of the highly successful and authoritative monograph first published as EC Securities Regulation. Heavily revised from the third edition to reflect developments since the global financial crisis, it adopts the in-depth contextual and analytical approach of earlier editions and so considers the market, political, institutional, and international context of the regulatory and supervisory regime.