New York Mercantile Exchange (Nymex) and LCH Clearnet have
joined forces in an attempt to wrestle volume away from ICE
Futures Europe. Nymex will launch a suite of European contracts
to rival those offered by ICE Futures in Europe that will be
cleared through LCH Clearnet.
The contracts will be offered as an alternative to ICEs
products. ICEs contracts will start being cleared through
ICE Clear as of July 18, if it receives the required regulatory
approval. Nymex will look to capture customers that are
disgruntled with ICEs clearing strategy. The
Atlanta-based exchange has drawn some criticism from certain
quarters over its plans to shift clearing away from LCH
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