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 to rival the electronic IntercontinentalExchange 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 its failure on regulatory issues that had delayed its launch while the International
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