Nybot chairman Fred Schoenhut also said Nybot, which would become a subsidiary of Ice under the plan, was looking forward to releasing its currency and index products electronically “in the near future”.
The proposed merger of the exchanges was greeted with a 93% vote in favour by participating Nybot members in December 2006. Ice expects $50 million in cost savings as a result of the deal, which still requires approval from the Commodities Futures Trading Commission and from the Internal Revenue Service. If the product launches go ahead, it will also be the first time soft commodities have been made available over Ice’s trading platform.
The week on Risk.net,October 14-20, 2016Receive this by email