New York Mercantile Exchange (Nymex) announced plans last
week to waive all fees associated with its PJM electricity
futures. As of 1 November, exchange, clearing and settlement
fees will be dropped for PJM daily, weekly and monthly
The change coincides with the migration of the monthly
contract from the floor to ClearPort. So far this year 36,081
power futures have traded on Nymex at an average daily volume
of 193, a significantly lower rate than 2003's 1,200 daily
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