Risk management

Offers

• Reviewing or editing a risk management policy
• Reviewing or editing a risk management manual in full or in part
• Establishing a risk inventory to a risk manual with emphasis on external factors not under control. Aggregation of individual risk to risk groups and a global risk
• Risk assessment at product management to optimize the fair price and risk sharing between the provider and its clients
• Procurement or production risk assessment with possibilities of hedging by means of forward market instruments
• Contract analysis of Take-or-Pay contracts with prices indexed on oil products and the possibility for selling back such positions
   

Market risks

• Open fixed price positions against volatile market prices
• Consideration of indexed prices
• Load curve analysis for costing, risk premiums for firm or indicative offers to clients and a limited validity

Counterparty risk

• Assessment of risk mitigation in existing master agreements (particularly EFET master agreements or alike), margin calls and covenants
• Consulting on contract management of master agreements (EFET and alike)
• Consideration of over-the-counter (OTC) transactions cleared or uncleared
• Decision aid on EFET master agreement elections
• Support and consulting in establishing simplified master agreements
• Calculation of actual and potential future exposures to counterparty risk

Hedging instruments

Hedging of volume sold at fixed prices: Staggered hedging, decomposition into market products, value or volume hedging, proxy hedging involving local or temporal spreads

• Forward prices for hedging fixed price positions
• No hedging of market price indexed positions
• Use of options only in case of correlated volume/price risks. Cost of option hedging

Indicators and limits

• Risk support capacity of a corporation together with its owners and business partners
• Risk assessment of particular contracts such as take-or-pay or termination clauses

Compliance

• Examination and eventually identification of obligations to report to regulatory authorities such as ElCom and ACER
• Review of the monitoring process on the well-behaviour regulation in Switzerland or Europe (FInfraG, EMIR, MiFID): Tracking of gross derivative transaction volume and portfolio size