As the battle between New York Mercantile Exchange (Nymex) and Intercontinental Exchange (ICE)'s ICE Futures subsidiary intensified ahead of Nymex's launch of side-by-side trading on Chicago Mercantile Exchange (CME)'s Globex electronic platform, the New York exchange has introduced a fee scheme to reward large volume traders.
Nymex said in a statement that standard fees for crude oil, heating oil, and RBOB gasoline futures contracts would be 75 cents for members, $1.25 for Comex members, and $1.50 for non-members, but there would be staggered reductions for users putting more volume through the exchange. Those trading large volume could see their fees for...