This is the second article in a series about trading of environmental commodities. This article describes practical approaches used in trading documentation to mitigating the definitional risks inherent in OTC trades involving environmental commodities.
“The Emerging Greenhouse Gas Emissions Cap and Trade Market” – published in The Market Maker (6/09) by GuyLaine CharlesJan 04, 2010
The lack of federal legislation establishing a greenhouse gas emissions cap-and-trade program has brought about the proliferation of voluntary programs and mandatory regional programs. This article discusses the importance of understanding the products being offered in the various programs in order to properly assess the risk and value of an investment in these programs.
In the NY Business Law Journal, Guylaine Charles discusses some of the special provisions of the Bankruptcy Code that are believed to address systemic risk and provides a brief overview of the legislative framework dealing with the bankruptcy of parties to over-the-counter (OTC) derivative contracts.
The Wrong Way to Dispute a Collateral Call: Key Lessons from VCG vs. Citibank – Teigland-Hunt LLP Client AlertDec 18, 2008
In a recent decision providing important reminders for participants in the OTC derivatives markets, a New York federal district court judge ruled in favor of Citibank in a case brought by one of its hedge fund clients. Notably the judge ruled that VCG Special Opportunities Fund Limited (“VCG”) had, by its conduct, effectively waived its right to claim that Citibank wrongfully demanded additional collateral in respect of a credit default swap.