International Petroleum Exchange (IPE) has moved to block a
plan by New York Mercantile Exchange (Nymex) to offer exchanges
of futures for futures (EFFs) in Brent crude.
Nymex is considering offering EFFs, which would allow
traders easily to move their open interest from IPE to Nymex's
new Dublin trading floor.
However, IPE informed members that taking advantage of such
a scheme would breach exchange rules. A circular stated, "we
understand that another exchange is proposing to offer EFF on
the IPE Brent crude futures contract? Members should be aware
that the exchange does not offer EFF facilities and any
pre-negotiation involving such a facility may result in members
being in breach of their existing obligations under exchange
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.