Prebon starts PJM trading

Broker Prebon Yamane became a floor broker for the New York Mercantile Exchange’s (Nymex) newly established electricity futures product last month. The move is being viewed by many participants as being indicative of Prebon’s strategy to become a major player on the Nymex trading floor, complimenting its over-the-counter (OTC) stronghold.

Interest in Nymex’s new contract – which is based on the Pennsylvania-New Jersey-Maryland (PJM) hub – has been high, say market participants. In the first

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