New York Mercantile Exchange (Nymex) is preparing to
introduce a new electronic order routing system as part of its
strategy to fend off competition from Chicago Board of Trade
(CBoT) over gold and silver futures volume.
Nymex plans to implement the new electronic order routing
system, which will send orders directly to the pit, by 6
October. The new system, called New York Mercantile Exchange
Electronic Order Network, or Neon, will be installed in the
metals pits first and will later be rolled out across its
energy trading floor as well.
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