Template-Type: ReDIF-Paper 1.0
Author-Name: Fernando Avalos
Author-X-Name-First: Fernando 
Author-X-Name-Last: Avalos
Author-Name: Wenqian Huang 
Author-X-Name-First: Wenqian 
Author-X-Name-Last: Huang 
Author-Name: Kevin Tracol
Author-X-Name-First: Kevin 
Author-X-Name-Last: Tracol
Title: Margins and liquidity in European energy markets in 2022
Abstract: European futures markets for natural gas and electricity were deeply disrupted by the events following the Russian invasion of Ukraine, including through large fluctuations in margins. The fluctuations in margins put significant liquidity demands on market participants, prompting the official sector to establish liquidity facilities in some jurisdictions. Fluctuations in initial margins were associated with material reductions in open interest of market participants, in line with standard deleveraging mechanisms seen in financial markets.
Length: 9 pages
Creation-Date: 2023-09-13
File-URL: https://www.bis.org/publ/bisbull77.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull77.htm
File-Format: text/html
Number: 77
Handle: RePEc:bis:bisblt:77