Buoyant trading on floor and screen
International Petroleum Exchange (IPE)'s 1 November switch
of the morning Brent crude trading session from pit to screen
seems so far to be paying off despite the challenge from New
York Mercantile Exchange (Nymex)'s newly-launched Dublin
Volumes at IPE were strong in the first three days of
competition, with Nymex yet to make a serious dent in market
share. IPE's morning electronic-only session saw around 14,000,
20,000 and 29,000 trades on the first three days respectively.
Floor volumes in the afternoons were also healthy at 94,000,
73,000 and 80,000 for the corresponding days. In addition,
volume for the overnight session between 2am and 10am has also
picked up to around the 7-8,000 mark, compared with previous
volume of around half that amount.
By contrast, volumes in Dublin began modestly and declined
slightly, Nymex Brent crude trading 5,726, 4,891 and 3,938
contracts on 1, 2 and 3 November. However, Nymex claimed there
are more traders yet to move across to Dublin, both from London
and the US, so there may be strides in trading yet to be
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.