New York Mercantile Exchange (Nymex) is believed to be
closing in on a deal that could strengthen its presence in
Europe after a dismal attempt to launch an exchange in London
failed last year.
The exchange said it planned to initiate winding down its
status as a recognised investment exchange (RIE) back in
January, a move that it said would hopefully be completed by
the end of the first quarter. By press time Nymex Europe still
existed as an RIE.
However, sources have told FO Week that Nymex had in fact
delayed contacting Financial Services Authority (FSA), which
authorises and unauthorises UK exchanges, as it was due to
embark on a potential joint venture which meant it needed to
retain its status.
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