Energy markets have transformed over the past decade in an accelerating process driven by a mix of deregulation, information technology and shifting fuel economics.

Managing the volatile risks that come with those changes has sparked a proliferation of hedging products and boosted volume on major exchanges that offer clarity and a degree of financial reassurance for energy companies traditionally reliant on lengthy bilateral contracts that leave them hugely exposed to suppliers and customers. With its purchase of the New York Mercantile Exchange in 2008, exchange operator CME Group became the leading venue for energy trading and placed itself squarely at the intersection of still-evolving trends in the sector. Keep reading →