Intercontinental Exchange (ICE)'s WTI crude oil contract
kept up its impressive trading pace into its second week in
what has become widely regarded as the most successful
competing futures contract launch ever.
The average daily volume in the first ten days was 42,700
contracts, with open interest growing to over 45,000 contracts.
This represented a market share of 10-15% in a contract that
had previously been the exclusive preserve of New York
Mercantile Exchange (Nymex). An ICE spokesperson said the user
base has been "deep and diverse," with over 180 companies
participating, ranging from oil companies to funds to
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