Nymex lures Brent traders with cash and equity deal

Volumes at New York Mercantile Exchange (Nymex)'s Dublin Brent operation have remained modest despite the implementation of a three-fold incentive plan aimed at market makers, trading firms and Locals to bolster trading in Dublin and subsequently when the exchange opens its London Brent operation (see FO Week Vol 10 No 11).

The incentives include as much as $100,000 per month for market makers trading their own accounts, volume- and open interest-linked equity stakes in Nymex's London operation and fee reductions...