Nymex and LCH.Clearnet form clearing alliance

New York Mercantile Exchange (Nymex) and clearing house LCH.Clearnet will team up to offer two energy contract slates, one cleared by Nymex ClearPort in New York and the other cleared by LCH in London.

The new London-cleared Nymex contracts will include West Texas Intermediate (WTI), Brent, gasoil, Henry Hub natural gas and electricity, and are expected to begin trading and clearing in mid-2008.

Existing LCH.Clearnet members who currently trade elsewhere can sign up with Nymex to trade US-cleared