New York Mercantile Exchange (Nymex)'s London open outcry trading facility opened on 12 September with the exchange claiming a successful launch and predicting future volume growth.
According to Roy Leighton, chairman of Nymex Europe, the new venture had 76 traders and 12 firms signed up to trade Brent crude from day one. On the first morning, traders from firms including Calyon, BNP Paribas and Amerex were present on the floor, although there were several large brokerages amongst the noticeable absentees.
Leighton told FO Week that the short time between the launch announcement and the event meant that some firms, especially larger ones, had not completed their registration and that more participants were expected in the near future.
Overall, he said, the exchange was pleased with the launch. "We are very happy firstly with the...