Nymex European launch imminent

The Nymex ambitions follow increasing dissatisfaction from the London trading community over the International Petroleum Exchange’s (IPE’s) plans to cut back on open outcry trading hours in favour of electronic trading. In July, IPE dealers staged a strike, refusing to trade on the platform in protest at the move towards electronic trading.

“The locals are upset by the IPE’s decision,” said Newsome. “So we’re initially looking at a very quick timeframe [for European launch].” Opening in

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