On Wednesday, two sources told Reuters that Goldman Sachs Group (GS.N) will open a Tokyo power derivatives desk.
Generators, customers, and distributors are trading more in the Japanese power market, which was opened in 2016 after the 2011 Fukushima nuclear disaster. More global energy businesses and banks are seeking entrance.
After Russia invaded Ukraine, electricity prices became more volatile, increasing trading interest in Japan’s power futures markets, according to insiders, electricity suppliers and buyers needed to hedge more during the power crisis.
According to anonymous reports, Goldman Sachs has hired Tokyo traders.
Goldman Sachs’ representative rejected the comment.
The European Energy Exchange (EEX) reported 6.3 terawatt hours (TWh) of Japanese power futures trading in January-April, over four times the amount from last year.
In May 2020, Deutsche Boerse (DB1Gn.DE) subsidiary EEX began clearing Japanese power futures. Trading volume has been rising.
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