CME Group has said the new integration dates for products on
the New York Mercantile Exchange and Commodity Exchange, its
metals division, would take place in September and October
after it missed the original deadline.
All Comex products are to migrate to the CME Clearing
platform on September 14 and Nymex products on October 5.
The exchange had earlier said the delay was to facilitate
requests from members who had asked the CME Group for more time
to test their back office bookkeeping systems and clearing
The integration of Comex products was to have taken place on
July 13, while Nymex products had been scheduled to migrate on
CME said the new dates should offer firms "sufficient
testing opportunities prior to each integration". CME Clearing
is hosting two Saturday mock trading sessions in August before
the Comex integration, and plans two Saturday sessions in
September before the Nymex integration.
Nymex is the world’s largest commodity futures
exchange, with a successful OTC platform, known as
CME Group acquired the New York exchange together with its
metals division last year in an $8.3bn deal, consolidating its
position as the world’s dominant futures
This May the exchange completed the integration of the Nymex
and Comex trading pits into one trading ring.
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