Strong profits posted, working capital above $950m
Chicago Mercantile Exchange (CME) has announced it is
looking to enter the energy futures space, which could lead to
yet another competitive threat to New York Mercantile Exchange
(Nymex)'s energy contracts.
Craig Donohue, CME CEO, told analysts during the exchange's
31 January earnings conference call that CME was leaning toward
offering energy contracts. While Donohue declined to provide
details on what contracts were being developed or when they
would be launched, industry sources believed that CME would
challenge Nymex's benchmark crude and perhaps the E-miny energy
contracts that the New York exchange used to list on
Nymex moved the E-Minys back to its ClearPort platform in
November and launched two new mini-sized contracts last month.
CME and Nymex recently broke off talks that would have given
CME an equity stake in Nymex and enabled Nymex to use the
Globex platform for its energy contracts.
Donohue told analysts, "We fundamentally believe that there is
a lot of growth opportunity in the energy market, particularly
associated with electronic trading of energy products."
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