The upcoming launch of New York Mercantile Exchange
(Nymex)'s physically-delivered WTI crude contracts traded on
Chicago Mercantile Exchange (CME)'s Globex trading platform
could prove a critical moment in deciding the fortunes of the
US commodities exchange if it does not
perform to the degree of ICE Futures' rival contract, sources
have told FO Week.
Last week, one source described the migration as a "defining
moment" for the New York exchange, adding that it could also
decide where the future of the contract would eventually
"It won't be long after the contract goes to screen before
it is clear what people would rather trade. It could go three
ways: either there is a healthy balance between Nymex's floor
and Globex volume, screen trading on Globex completely takes
over from the Nymex floor, or everybody decides to trade ICE
Futures if Nymex get it wrong," said a trading source.
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