Uncertainty mounts as Optionable falls
Aa bleak week for Optionable Inc, the New York-based energy brokerage behind the Bank of Montreal’s gas trading losses, has continued to get worse. Uncertainty is now growing over the brokerage's relationship with the New York Mercantile Exchange (Nymex).
Nymex had previously bought a 19% stake in Optionable. An option to raise its stake to 40 % suggested that the exchange planned on either eventually buying the brokerage or incorporating it.
However, Nymex’s announcement this week that it will offer options trading for crude oil, natural gas, gold, and silver on the CME Globex electronic trading platform beginning in June – as opposed to Optionable’s Opex platform – has raised questions over the exchange’s intentions for the brokerage.
Optionabl
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