Nymex looks to grab back WTI market share from ICE

New York Mercantile Exchange (Nymex) and Chicago Mercantile Exchange (CME)'s launch of side-by-side trading of Nymex contracts has prompted some industry participants to say Intercontinental Exchange (ICE)'s WTI crude oil futures will come under threat. The switch was scheduled for 12 June.

Nymex will offer cash-settled futures on its energy contracts, which some sources have said will not suit the needs of hedgers in the market who prefer physical delivery. However, there was a consensus that listing contracts side-by-side on Globex was certain to expand Nymex's user-base and some also believed that it would return volumes in...