The Comex division of New York Mercantile Exchange (Nymex)
is considering fee reductions and the extension of electronic
trading hours in a bid to defend its gold and silver markets
against competition from Chicago Board of Trade (CBoT).
CBoT recently unveiled its plans for electronically traded
gold and silver contracts aimed at poaching volume from Nymex's
predominantly pit-traded markets (see FO Week Vol 9 No
In an exclusive interview with FO Week, Nymex president Jim
Newsome said the CBoT move had been the "primary topic of
conversation" at a recent Comex board of governors meeting
adding that the exchange would "do everything that we can to
protect those markets."
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