New York Mercantile Exchange (Nymex)
Online clearing: the shape of energy markets to come
The energy trading market is moving towards a structure in which participants achieve market presence through a dedicated market network, rather than having to use local or regional exchanges, says strategic consultant Chris Cook
US energy prices: in line for a fall?
A combination of concerns in the second half of January 2003 has boosted US oil and natural gas prices to levels not seen since the winter of 2000/2001. Will the higher prices stick? Logical Information Machines examines cause and effect
Playing a waiting game
With energy – and particularly natural gas – costs on the rise, are end-users finally coming to terms with the importance of hedging or are they still waiting to get burned before they enter the hedging market? Kevin Foster reports
Nymex makes EOO trading permanent
The New York Mercantile Exchange (Nymex) yesterday said that it will make exchange of options for options (EOO) trading in energy markets permanent.
Exchanging blows
Conflict in the US and growth in Europe marked another turbulent year for energy exchanges. Kevin Foster casts an eye back over 2002
US gas market challenges
A new report from the investigative office of the Federal Energy Regulatory Commission finds that competitive natural gas markets in the US are robust, but warns of challenges ahead. Kevin Foster reports
Crude oil takes a double hit
Mark Powell of GlobalView Software looks at how crude prices are being affected by the impending war with Iraq and the general strike in Venezuela
Blurring the lines
A turf war between Atlanta’s IntercontinentalExchange and the New York Mercantile Exchange reveals a shift in the traditional role of over-the-counter brokers and exchanges, finds Catherine Lacoursière
Clearing will solve energy market woes, says University of Houston
Over-the-counter clearing of energy derivatives contracts could provide the market with the required transparency to help rebuild the energy trading industry, according to research by Global Energy Management Institute (GEMI) at the University of Houston…
Ice opens doors to futures exchange traders
Atlanta-based commodities exchange IntercontinentalExchange (Ice) has received approval from the US Commodity Futures Trading Commission (CFTC) permitting registered traders and locals with floor or electronic trading privileges on any regulated US…
Euronext pays CME $7.5m to settle Wagner patent dispute
Pan-European exchange Euronext will pay the Chicago Mercantile Exchange (CME) $7.5 million related to settlement of an indemnification dispute. The dispute revolves around the CME’s $15 million deal in August last year with electronic brokerage eSpeed…
Ice sues Nymex over alleged abuse of monopoly power
Energy trading platform Intercontinental Exchange (Ice) is suing its rival, the New York Mercantile Exchange (Nymex), over alleged abuse of monopoly power in the energy trading markets.
Standardising electricity contracts
Electricity contracts have come and gone, but a new trio of financially settled futures contracts aims to widen the electricity market, reports James Ockenden
Nymex to launch OTC trading platform
The New York Mercantile Exchange (Nymex) said it plans to introduce a trading platform designed for over-the-counter energy market participants in January, with beta tests beginning next week.
Nymex sues Ice as battle for market supremacy mounts
The New York Mercantile Exchange (Nymex) is suing IntercontinentalExchange (Ice), the Atlanta-based online commodities trading platform, for alleged copyright infringement, a Nymex spokeswoman told RiskNews . Nymex and Ice have been fighting for…
OTC power market down by 60% as firms switch to regulated markets
There has been a sharp decline in the number of over-the-counter gas and power contracts since the demise of Houston-based energy trader Enron. Firms initiating power trades are increasingly conducting them via exchanges or through their clearing…
eSpeed settles patent dispute with CBOT and CME
eSpeed, a subsidiary of interdealer broker Cantor Fitzgerald and developer of electronic trading technology, has settled its lawsuit against the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) over infringement on patented…
Crude futures hit six-month highs
Crude oil futures on the New York Mercantile Exchange (Nymex) hit six month highs of $25.61 a barrel (bbl) on March 21 as a combination of rising demand, continued supply curbs and fears of US action against Iraq drove prices higher.
Nymex and CME offer joint energy futures
The New York Mercantile Exchange (Nymex) is to offer smaller versions of its energy futures contracts via the electronic trading platform of the Chicago Mercantile Exchange (CME).
Nymex’s problems continue
One unexpected victim of market disruption following the events of 11 September has been the New York Mercantile Exchange's (Nymex) new Brent futures contract – a key weapon in the exchange’s battle for supremacy with London’s International Petroleum…
Nymex falls back on internet service
The New York Mercantile Exchange (Nymex), closed since Tuesday due to its proximity to the World Trade Center, plans to fall back on an untried internet-based service to give clearing members access to energy and metals futures contracts price discovery.