New York Board of Trade (Nybot) last week said
it expected to select its new trading platform within the next month.
Fred Schoenhut, Nybot chairman, told FO Week at the Futures Industry Association expo in Chicago that choosing an electronic trading platform was the top priority at the exchange. As the last remaining Western exchange without an electronic platform, Schoenhut said there was both a need and demand for the system, although he added there remained no plans to change its floor operations.
"It's basically a built in disaster recovery vehicle," Schoenhut said. "It also helps eliminate some degree of...