New York Mercantile Exchange (Nymex) said last week that
over 100 London-based traders and clerks have taken up its
incentive package to leave International Petroleum Exchange
(IPE) and trade Nymex's rival Brent crude futures in
Nymex is believed to be on course for a 1 November start to
Dublin pit trading, while on the same day IPE will go ahead
with its plan to reduce Brent open outcry hours and move
morning trading on screen.
There are 110 Local seats at International Petroleum
Exchange (IPE), of which 88 are currently active, so Nymex's
claims indicate a significant proportion of Locals are
considering the move to Dublin, although by no means all of
them are expected to be there from the start.
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