Editorial: The sand pit

New York Mercantile Exchange (Nymex)'s decision to switch its electronic trading programme to Chicago Mercantile Exchange (CME)'s Globex platform can be seen in some ways as another parallel with previous exchange competition fights. Confronted with the looming prospect of Eurex US, Chicago Board of Trade (CBoT) signed up to someone else's screen technology and embraced the electronic future - a move that Nymex seems...