The technology deal between New York Board of Trade (Nymex)
and Chicago Mercantile Exchange (CME), announced on 6 April,
has been accepted as a shrewd move by both exchanges but the
window of opportunity still remains open for competitors.
Even when the agreement goes live in the next two months,
CME's hosting of Nymex products will start with E-Miny energy
contracts and Nymex officials said they are still working
through the details of how and when the exchange will list the
benchmark WTI crude, natural gas, gasoline and heating oil
futures for side-by-side trading.
Nonetheless, industry executives and analysts said the deal
was a major win for Nymex and a solid business deal for CME.
One Nymex member said the deal was "a home run".
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