14 Mar 2007, Mark Pengelly, Risk magazine
Bringing Nybot’s financial futures contracts onto Ice’s electronic platform will put them into direct competition with other electronic markets, such as the Chicago Mercantile Exchange’s Globex and the New York-based International Securities Exchange.
The announcement follows the start of electronic trading of Nybot’s major soft commodity contracts on February 2. Since then, around 30% of daily volume in these contracts has been traded electronically. The sugar, cotton, coffee, cocoa and frozen concentrated orange juice contracts were scheduled to come online from January 19, but were delayed.
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