New Nymex member gripe at General Atlantic deal

New York Mercantile Exchange (Nymex) members continued to debate the potential equity partnership with General Atlantic (GA) last week following the exchange's filing of the deal's details with regulators (see FO Week Vol 11 No 7).

The Nymex deal to sell 10% to private equity firm GA for up to $170m has raised numerous questions about everything from Nymex's board makeup to its plans to offer side-by-side electronic trading. A member meeting was set for 3 March to answer questions about the proxy on the GA deal as well as questions about the strategic direction for the exchange.

Several members interviewed about the deal...