New York Board of Trade (Nybot) last week said
it expected to select its new trading platform within the next
Fred Schoenhut, Nybot chairman, told FO Week at the
Futures Industry Association expo in Chicago that choosing an
electronic trading platform was the top priority at the
exchange. As the last remaining Western exchange without an
electronic platform, Schoenhut said there was both a need and
demand for the system, although he added there remained no
plans to change its floor operations.
"It's basically a built in disaster recovery vehicle,"
Schoenhut said. "It also helps eliminate some degree of
competition from outside markets. And, most importantly, it
enables us to be pretty nimble on some of our markets that
might require 24/7 trading."
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