Oldest US exchange to launch energy futures

Merchants’ Exchange, the oldest commodities exchange in the US, is to offer energy futures contracts for the first time.

The move follows an increase in demand for cleared contracts following the bankruptcy of Enron Corp, although Merchants’ Exchange says it had planned the energy futures contracts before the Houston-based energy major filed for Chapter 11 bankruptcy on December 2.

Robert Stewart, president of Merchants’ Exchange, says the exchange plans to offer a block trading function in an

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