So just as Lynne urges you to follow the prodigious output of theWSJ’s Energy Roundup blog, they reveal that they, too, are human by rushing out some less-than-carefully worked out language about market shares among traders in the over-the-counter energy derivatives markets:
According to a recent survey by research firm Greenwich Associates, Goldman is the largest energy-trading firm in the world when it comes to companies trading over-the-counter energy derivatives. Goldman controls 40% of the market, followed by Morgan Stanley, which has a 35% market share, and Barclays Capital, which was used by 27% of the companies surveyed by Greenwich.
So, by a little mental math, it looks like the top three firms have locked up 102% of the market. No wonder the smaller firms have to work so hard.