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
IntercontinentalExchange’s (Ice) decision in January 2003 to sue the New York Mercantile Exchange (Nymex) for abuse of monopoly power is the latest challenge for the trading and clearing business in the North American energy markets.
The rivalry between the biggest electronic over-the-counter exchange and the leading provider of energy futures is nothing new. Nymex launched a lawsuit in November 2002 in an attempt to prohibit Ice from using its natural gas settlement prices
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