Commodity derivatives lead the way for OTC reform

Enron proved merits of bottom-up evolution, not change imposed from above

Mark Pengelly - Energy Risk
Mark Pengelly

A financial tempest occurs, bringing down an industry giant and several other firms behind it. A large and complex web of counterparty relationships causes losses across the market and precipitates an existential crisis. Regulators pounce on the industry’s failings, insisting it must do better. Then, the market gradually begins to rebuild itself, turning towards central clearing and making improvements in other areas.

This is not the tale of Lehman Brothers and the financial crash of 2008. Inste

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: