Tags: 2013, energy industry, Energy News, energy regulation, ETRM, Europe price scandal, Fracking, gas exports, keystone pipeline, natural gas, new energy secretary, Pioneer announcments news and events, Pioneer News, Pioneer Solutions, smart grid
Welcome to May’s Top 10 Energy & Risk News Highlights
The goal of this series is to provide a brief list of the top news stories each month for the Commodity and Energy Trading and Risk Management industries. These stories come from some of the industry’s top sources spanning from Bloomberg Businessweek to Oilprice.com.
If you have any suggestions on news that you think should be featured on our monthly list, don’t hesitate to submit a comment and let us know. Continue reading
Right on the heels of our biggest event of the year, Energy Risk USA 2013, comes Pioneer Solutions’ next sponsored event: the Argus North American Crude Transportation Summit.
Held from June 5th– June 7th at the JW Marriott, in Houston, Texas, this event will bring industry leaders together to discuss key issues surrounding the North American crude oil market. There will be six sessions during the two day event. Pioneer Solutions is the official sponsor of the continental breakfast that will be held from 7:30 – 8:30 a.m. on Thursday, June 6 and Friday, June 7. Be sure to stop by to meet a representative from Pioneer who will be able to answer any questions you may have or schedule you a no-obligation demo about what Pioneer can do for your business.
Tags: asc815, asc820, best credit risk system, Commodity Energy Trading and Risk Management -Etrm, Credit Risk Software, credit value adjustment, CVA, derivative accounting, DVA, FAS 133, FAS 157 compliance reporting software system, Pioneer Solutions, regulatory compliance, TRMTracker
Written by Uday Baral, Pioneer Solutions’ President/CEO
Are you prepared for financial regulations related to Credit Value Adjustments and Fair Value Disclosure?
Two counterparties are taking market risks as they enter into a trade. In addition, they are also taking credit risks against each other, due to counterparty default (i.e., counterparty credit risks). Credit risks should be adjusted appropriately with credit/debt value adjustments (i.e., CVA/DVA) in order to reflect the adjusted value of the portfolio.
The FASB and IFRS accounting standards require fair value adjustments, due to credit risks. These requirements are dealt with in ASC815 (FAS133) and ASC820 (FAS 157) FASB standards in the US. Similarly, IFRS standards IFRS7, IFRS9 and IFRS13 define these requirements. Fair value hierarchy disclosure is also required by both FASB and IFRS standards.
While the concepts of these requirements are simple, proper implementation could not be more complex. Because of this, companies will require a solution that requires tight collaboration among market and credit risks and derivative accounting processes/solutions.
Tags: ETRM, ETRM blog, FARRMS ETRM architecture, new website, Pioneer announcements news and events, Pioneer News, Pioneer Solutions
For those of you who have not visited the Pioneer Solutions website recently, there have been some big changes. Pioneer Solutions released our new website early this week. The website now offers the visitor a user-friendly approach to our company, as well as an updated design and improved usability. You can access the new website at the same URL as before: www.pioneersolutionsglobal.com
Tags: back office, Best Ctrm Software, Best ERM software system, Commodity Energy Trading and Risk Management -Etrm, CTRM, Ctrm-Etrm decision support software solution, energy events, Energy Risk, energy risk policy & procedure, Energy Risk USA- Houston, energy-risk usa, Pioneer announcment news and events, Pioneer announcments news and events, Pioneer News, Pioneer Solutions, TRMTracker
It is that time of year again—Energy Risk USA 2013 is rapidly approaching and associate sponsor, Pioneer Solutions, is eagerly preparing for what is expected to be a great event. The 17th annual Energy Risk USA will take place May 14-15th at the Hilton Houston Post Oak in Houston, Texas. Preand post-conference workshops will take place May 13th and 16th, respectively.
This year, representatives from Pioneer will be on-site to answer questions and discuss their next generation C/ETRM solutions.