Nymex abandons UK exchange

The New York Mercantile Exchange (Nymex) has effectively ended its trading presence in the UK by applying for its subsidiary, Nymex Europe, to be deregistered.

Nymex originally launched the open-outcry, London-based Nymex Europe in September 2005 as a rival to the electronic IntercontinentalExchange (ICE) platform, which operates the global Brent crude benchmark.

Nymex Europe failed to attract significant interest, however, and the trading floor was closed in June 2006. Some blame the failure