A slice of the IPE

Oil

By the end of this year it will be clearer whether the New York Mercantile Exchange (Nymex) is in a position to open an exchange in London – the only real way it stands a chance of gaining a significant slice of IPE business, traders say – and whether trade in Dublin can tick over until such a time.

So far, Nymex Brent crude, trading at the New York Board of Trade’s (Nybot’s) Finex facilities, is averaging a daily volume of around 3,000 to 5,000 lots, and new traders are appearing on the floo