A slice of the IPE

The fate of the Nymex Brent contract launched this month in Ireland – an undisguised attempt to grab business from the IPE – will be determined by Christmas, say Dublin floor traders. By Stella Farrington

By the end of this year it will be clearer whether the New York Mercantile Exchange (Nymex) is in a position to open an exchange in London – the only real way it stands a chance of gaining a significant slice of IPE business, traders say – and whether trade in Dublin can tick over until such a time.

So far, Nymex Brent crude, trading at the New York Board of Trade’s (Nybot’s) Finex facilities