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Trading

33 entries

A

Andrew Lewis

Gas Trader on the Central Desk at Enron North America, handling intramonth natural gas trading and utility customer deals through the company's transition to UBS.

C

Capacity Management

The management of pipeline, transmission, and generation capacity that underpinned Enron's energy trading operations, encompassing both legitimate daily scheduling and the manipulation strategies that exploited California's electricity markets.

Credit Derivatives

Enron's credit derivatives trading operation, launched on EnronOnline in early 2000, offered simplified bankruptcy protection products across multiple jurisdictions and intersected with the company's SPE structures through LJM credit risk modeling.

E

Enron Americas

Enron's core North American wholesale energy trading operation, responsible for gas and power trading across the United States, Canada, and South America, which was reorganized as NetCo and sold to UBS Warburg following the December 2001 bankruptcy.

Enron Capital & Trade Resources

Enron's foundational trading division that transformed the company from a pipeline operator into the world's largest energy trader, pioneering the Gas Bank concept, EnronOnline, and a performance culture that shaped both Enron's rise and its collapse.

Enron Europe

Enron's European trading division headquartered in London, which pioneered commodity trading across European energy markets and served as the birthplace of EnronOnline.

Enron Global Markets

Enron's international trading division created in July 2000 to consolidate global commodities trading outside natural gas and power, encompassing crude oil, coal, LNG, weather derivatives, emissions, insurance, and financial instruments.

Enron Metals Trading

Enron's short-lived metals trading division, formed through the 2000 acquisition of London-based MG plc for $446 million, which brought copper, aluminum, and other base metals into the company's commodity portfolio before being wound down in late 2001.

Enron North America

The renamed successor to Enron Capital & Trade Resources, Enron North America operated from September 1999 to early 2001 as Enron's largest and most profitable wholesale energy trading operation, generating billions in revenue while concealing over $1 billion in accounting fraud through hidden reserve accounts.

Enron Trading Operations

The wholesale energy trading business that transformed Enron from a pipeline company into the world's largest energy trader, generating billions in profits through gas and power trading desks organized by geographic region and commodity.

Enron Wholesale Services

The umbrella division consolidating Enron's global wholesale trading operations, Enron Wholesale Services generated over 93% of the company's revenue by late 2000 and represented the organizational culmination of Enron's transformation from pipeline operator to the world's largest energy trader.

Enron's London Hub

Enron's European headquarters at 40 Grosvenor Place in London, which grew from a small merchant trading office in 1995 to a multi-country operation with approximately 30 lawyers, integrated metals trading, and global markets products before filing for UK administration on November 30, 2001.

EnronOnline

Enron's revolutionary web-based commodity trading platform that became the world's largest e-commerce site by transaction volume in 2000.

F

Fletcher J. Sturm

Natural gas derivatives trader at Enron who authored an industry textbook and led Midwest Power trading operations

G

Gas Bank

The foundational financial innovation developed by Jeff Skilling in 1989 that transformed Enron from a natural gas pipeline company into an energy trading powerhouse by acting as an intermediary between producers and consumers in the newly deregulated market.

Geoff Storey

Director of Trading at Enron who specialized in Eastern Canadian gas markets and led the development of the Gas Trading Vision (GTV) system.

Greg Whalley

West Point graduate and Stanford MBA who rose from trader to President and COO of Enron Corporation during its final months, later leading the trading operation's transition to UBS Warburg.

H

Hunter Shively

Vice President of Midwest Gas Trading at Enron, managing the Central desk's natural gas operations in Chicago and surrounding markets through the company's bankruptcy.

J

Jeffrey A. Shankman

Wharton MBA who rose from entry-level hire to President and COO of Enron Global Markets by age 34, later convicted of bankruptcy fraud for concealing art and jewelry from creditors.

John D. Arnold

Vice President of Gas Trading at Enron North America who generated $750 million in profits in 2001, received the largest bonus in Enron history, and later founded Centaurus Advisors.

John Griffith

Natural gas options trader at Enron North America who specialized in volatility analysis and was involved in VPP deals and prepaid financing transactions.

John Lavorato

Calgary-based trading executive who rose to become President and CEO of Enron Americas, overseeing North American gas and power trading operations.

John Sherriff

President and CEO of Enron Europe who oversaw one of the world's largest commodity trading organizations, spanning European, Australian, and Japanese energy markets

K

Kevin M. Presto

Vice President and head of Enron's East Power trading desk, managing one of the company's most successful regional power operations through the 2001 bankruptcy.

M

Mark Frevert

Vice Chairman of Enron Corporation and former Chairman and CEO of Enron Wholesale Services, Enron's largest business unit

Mark-to-Market Accounting

The accounting method that allowed Enron to book projected future profits immediately, championed by Jeff Skilling and approved by the SEC in 1992, which became a vehicle for manufacturing over $100 million in fraudulent earnings.

Matt Lenhart

West Basis Trader at Enron North America who specialized in Western United States natural gas markets, trading PG&E and California basis positions.

Mike McConnell

President and CEO of Enron Global Markets who oversaw eight global trading and origination businesses generating over $15 billion in revenue, with a particular focus on international expansion into Australia and Japan.

P

Phillip Allen

Vice President of West Gas Trading at Enron, managing natural gas trading operations for California, the Rocky Mountains, and the Pacific Northwest during the California energy crisis.

R

Robert Benson

Director of East Power Trading who dominated the PJM power market, delivering exceptional returns before transitioning to UBS Warburg following Enron's collapse.

S

Scott Neal

Vice President and Head of the East Desk at Enron North America, managing natural gas trading operations across Northeast and Southeast U.S. markets through the company's collapse.

T

Thomas Martin

Manager of the Texas Desk at Enron North America, responsible for natural gas trading operations and HPL transition management

Trading Risk Desk (Global Risk Management Operations)

Enron's operational risk monitoring function, formally known as Risk Controls-Operational, which handled daily VAR calculations, position limit monitoring, and risk reporting across all trading desks under Sally Beck's Global Risk Management Operations umbrella.