Nymex’s side-by-side trading seen as deathknell to floor
The New York Mercantile Exchange (Nymex) will introduce side-by-side electronic and open-outcry trading in its physically settled energy futures contracts in the second quarter of 2006.
Currently, electronic trading on the exchange’s Access platform takes place only when its trading floor is closed. The new side-by-side electronic trade will take place on Nymex’s ClearPort platform.
“We believe that electronic trading of our full-sized, floor-traded contracts will be the perfect complement to our robust and liquid open outcry markets,” commented Nymex president James Newsome.
However, although Nymex has been a staunch supporter of open-outcry trade in recent years, many market
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