CONSULTANTS

Nedia Miller, Senior Consultant

Nedia Miller provides advice and risk management consulting services to institutional clients in the energy industry, major financial institutions and start up energy trading advisory desks. A member of NYMEX, Ms. Miller has several specific areas of expertise, such as the pricing of exotic options and credit derivatives, and FAS 133 applications.

She has been engaged both in trading the physical energy commodity (floor trading on the New York Mercantile Exchange) and executing complex financial/exchange-traded and OTC transactions. Since 2000 Ms. Miller has added weather derivatives and emission to her services.

Ms. Miller also has extensive experience in training. As an options principal, she supervised and trained traders in trading energy derivatives in all energy commodity markets, using weather derivatives transactions for hedging price risk. She has provided on the job training, and has conducted seminars in the energy industry on risk management, options pricing, trading strategies and hedge accounting (FAS 133 -accounting for derivatives). Currently she is participating in several energy projects focusing on emission: managing and trading emissions, evaluation of renewable credits, Green House Gas (GHG) and other credits.

Ms. Miller is a regular lecturer at the Columbia University Department of Mathematics, and a guest lecturer at Baruch College CUNY, New York.

She has written articles for professional magazines (Derivatives Strategy, Financial Engineering News, etc.) and has contributed chapters to professional books such as "Energy Risk Management" (McGraw-Hill 1998) and "Energy Convergence" (John Wiley, 2002).

Ms. Miller has a PhD in economics and an MBA degree from Baruch College (1993), CUNY New York. As an accredited CTA, she holds licenses in the financial/commodity industry including Series 3, 4, 7, and 63. She is an active member of the International Association of Financial Engineers and the Managed Funds Association. Ms. Miller is registered as a Commodity Trading Advisor with The National Futures Association (NFA), and with NASD (options principal, license #4, and broker license #7). Since 1999 Ms. Miller has also been a member of the Derivatives' Implementation Group (DIG), which has been working closely with FASB for establishing the new accounting rules for derivatives, FAS 133.

Former employers include Polo Petroleum (1987), Drexel Burnham Lambert (1988) and Board Oil Futures (member of NYMEX 1989 through 1991).

Consulting clients include McKinsey & Co., ABB Financial Services and energy companies. She has been instrumental in the development of a proprietary trading system..

Her most recent consulting assignments were with KPMG, 2000-2002: responsible for accounting of Energy Derivatives according to FAS 133, Deutsche Telecom, 2001-2002: consulting on bandwidth trading in Germany.