Understanding biofuels swaps
Risk management in a new energy market
22 October 2009, London
The first dedicated event on biofuel swaps - register now
The programme is subject to change - check back for regular updates.
| 9.00 |
Introduction to biofuels markets
The biofuels landscape – supply, demand and price drivers
Petroleum and agricultural market fundamentals
Trading and future outlook
Mat Stone, Global Biofuels Editor, Argus |
| 9.30 |
Managing physical price risk with financial instruments
Introduction to futures, forwards and swaps for gasoil, gasoline, ethanol and biodiesel
How do these financial instruments differ and what are the benefits and risks?
Understanding the correlation of different financial products and levels of liquidity
Peter Caddy, Director and Head of Business Development, Argus |
| 10.00 |
Biofuels risk management tools - biodiesel, gasoil, gasoline, soft commodities, vegoils, ethanol
Market overview of different risk management tools
Participation and liquidity
Price correlation and appropriateness for hedging
Risks and mitigation
Kevin McGeeney, CEO, Starsupply Renewables |
| 10.45 |
Networking break
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| 11.15 |
US biofuels risk management -a case history
Summary of current tools available - how did these develop
Effectiveness of hedging options
Importance of sufficient hedging capital
To what extent are companies managing risk in the US?
Building a strategy
Matt Upmeyer, Risk Management Advisor, FCStone |
| 12.00 |
US ethanol market and risk management tools
The growth of the US ethanol swaps markets - what, how and why
Looking ahead - future developments
Outlook for Europe
Paul Mazzarulli, Director of Biofuels, Evolution Markets
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| 12.45 |
Networking lunch
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| 14.00 |
CME Clearport system: open clearing system for OTC products
Central counterparty clearing to manage counterparty credit risk
CME Group’s cleared biofuels products
Richard Stevens, Director, Research and Product Development , CME Group
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| 15.40 |
Swap markets - legal and regulatory issues
Regulatory update, including proposals for central counterparty clearing, MiFID-related issues and market abuse/FSA enforcement.
Key legal issues, including the mitigation of credit risk through netting and collateral.
Documentation architecture: master agreements and collateral arrangements.
Cross-border insolvency issues.
Anna Lawry and Nicholas Ralph, Associates, Slaughter & May |
| 15.20 |
Networking break
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| 15.45 |
Integrating oil and agricultural market experience - a case study
Differences between oil and agricultural markets
Buying in agricultural expertise
Establishing a joint trading team
Current trading enviroment for biofuels
Biofuels risk management and future market developments
Andrew Glass, Vegetable Oil Trading Manager, Mercuria |
| 16.15 |
Panel session - ask the experts
Alexis Cazin, Biofuels Trading Manager, Total
Jerome Lunot, Head of Biofuels Desk, Trafigura
Stuart Strong, Vice President, Morgan Stanley
Bruce Benefiel, Risk Management Advisor, FCStone
Mat Stone, Argus
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| 17.30 |
End of conference
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| 18.00 |
Networking reception
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