Publications

Insight April 24, 2025

EU Carbon Market 101The European Union Emissions Trading Scheme (EU ETS) is based on a cap-and-trade system: Operators of installations including power generation, various industries and intra-European aviation covered by […]

Insight February 7, 2025

The gold market has experienced a significant dislocation starting in January 2025, driven largely by concerns about impending tariffs on US imports. This uncertainty has triggered a shift in the […]

Insight December 17, 2024

Crack spreads (or « cracks ») refer to the differences between wholesale refined product prices (such as gasoline, diesel, jet fuel, fuel oil, etc..) and crude oil prices. Those spreads can be […]

Insight October 15, 2024

Despite significant geopolitical and economic turbulence, implied volatility across asset classes has lately remained subdued. In Gold, volatility spikes have been quickly sold off, reflecting market resilience and a condescension […]

Insight July 4, 2024

TRADERS TANGOCommodity traders engage in buying and selling commodities in their simplest form (i.e. physical underlying) or more complex methods through derivatives contracts, sometimes with exotic payoffs. Commodities encompass a […]

Insight June 13, 2024

Nobody’s talking about palladium… having fallen 70% in value since its previous highs above $3000/oz in 2022, the metal is in secular bearish trend and seemingly fell in disinterest. Named […]