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Derivatives

AEP Loses Emissions Trader

Robert Delarm, head of emissions trading, resigned from American Electric Power last Monday to take up a new position in Chicago. Delarm declined to comment on where he is heading or why he resigned. AEP spokeswoman Melissa McHenry, said Delarm's last day at AEP is July 25.

Delarm ran AEP's emissions trading desk for three years following a stint trading power at the Columbus, Ohio, power giant. Last October, AEP announced it was scaling back its trading desk but as one of the largest coal generators in the country, it is unlikely the company will retreat from emissions trading, said a company insider. McHenry confirmed that the company plans to hire someone to replace Delarm, adding Chuck Zebula, senior v.p. of asset and production optimization, is responsible for recruiting a replacement.

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