Optionable equity deal may not be a one-off
A surge in electronic trading and a decrease in fees paid to
Chicago Mercantile Exchange (CME) were dominant factors in
helping New York Mercantile Exchange (Nymex) see net income
rise 118% in 2006 to $154m, as the exchange ended the year with
a strong quarter on the back of a successful public
Nymex president and CEO Jim Newsome cited highlights for the
year including a 581% increase in WTI volume since the exchange
arranged side-by-side physically settled trading of the
contract on floor and screen. This led to Nymex increasing its
marketshare of WTI over rival Intercontinental Exchange (ICE)'s
ICE Futures subsidiary to around 70% in January. At one stage
during 2006 it looked as though ICE Futures would continue to
wrest the contract away from Nymex but the New York exchange's
adoption of CME's Globex seemed to have allowed it to recover
its originally dominant position.
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