New York Mercantile Exchange (Nymex)'s London open outcry
trading facility opened on 12 September with the exchange
claiming a successful launch and predicting future volume
According to Roy Leighton, chairman of Nymex Europe, the new
venture had 76 traders and 12 firms signed up to trade Brent
crude from day one. On the first morning, traders from firms
including Calyon, BNP Paribas and Amerex were present on the
floor, although there were several large brokerages amongst the
Leighton told FO Week that the short time between
the launch announcement and the event meant that some firms,
especially larger ones, had not completed their registration
and that more participants were expected in the near
Overall, he said, the exchange was pleased with the launch.
"We are very happy firstly with the number of people on the
floor. We were looking for a good solid opening, not
necessarily fireworks. There is activity - people are quoting -
good price transparency and so we are very satisfied."
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