Max Planck Institute of Quantum Optics (Julia W)
Business Spectator. Readers, your thoughts?
Macro Rants. Readers?
Who is IOZ? on Instagram. “A billion, really?” Kinda NSFW.
The issue revolves around the role played by price reporting agencies – PRAs – such as Platts, Argus Media and ICIS. These wield extraordinary power in the energy sector, since, as Liz Bossley, head of the Consilience Energy Advisory Group says in her submission to Iosco: “The vast majority of physical oil production moves under contracts that use PRA benchmarks as a reference point”, and “perhaps 60 to 70 per cent of OTC swaps and options are priced or cash-settled by reference to PRA quotes.”
But the PRAs do not create these indices just based on prices established by actual trades; instead, they also rely (sometimes heavily) on reported quotes from a pool of selected financial players, with sometimes as few as five participants taking part, as the Iosco report notes. And there is limited external scrutiny, let alone regulatory oversight of the prices, because reporting activities have been defined as “journalistic” activity and are shielded by free speech rules.
What could go wrong?
. “The first clue… was the sign-up table, where there were a bunch of Obama buttons for sale.”
Mother Jones. Isn’t it pretty to think so.
Gapers Block, Chicago, IL
Sure, but why are all the wankers bit players from the media?
Columbia Journalism Review
Times (Buzz Potamkin)
Guardian (Buzz Potamkin)
The Miami Herald
The Sideshow. Make up your own jokes!
? Foreign Policy
and his are .
Technology Review. That means a world with lots of sensors and lots of streaming data.
Detroit News. How a propos.
Antidote ju jour: Tillman the Surfin’ Bulldog (furzy mouse):