As the battle between New York Mercantile Exchange (Nymex)
and Intercontinental Exchange (ICE)'s ICE Futures subsidiary
intensified ahead of Nymex's launch of side-by-side trading on
Chicago Mercantile Exchange (CME)'s Globex electronic platform,
the New York exchange has introduced a fee scheme to reward
large volume traders.
Nymex said in a statement that standard fees for crude oil,
heating oil, and RBOB gasoline futures contracts would be 75
cents for members, $1.25 for Comex members, and $1.50 for
non-members, but there would be staggered reductions for users
putting more volume through the exchange. Those trading large
volume could see their fees for crude oil at Nymex drop to as
low as 40 cents for members, 68 cents for Comex members and 81
cents for non-members.
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