Nymex chairman confirms he will step down this year

27 Mar 2006

New York Mercantile Exchange (Nymex) has confirmed that its chairman, Mitchell Steinhause, has told the board of the exchange that he will not be standing for re-election, verifying reports in FO Week in February (see FO Week Vol 11 No 6).

Steinhause has been a...

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“A lot of banks have spent a lot of money calculating the cheapest way to collateralise their positions, and they’ve hired some very bright mathematicians to do it. Why would they gamble all of that by using the cheapest clearing house?”

Senior rates players believe fears of a race to the bottom among clearing houses has been overstated.