LME faces Nymex metals threat

New York Mercantile Exchange (Nymex) has been considering taking on London Metal Exchange (LME) on its home turf with proposals to roll out mini-sized contracts and to clear OTC base metal contracts.

Nymex Europe, which opened in London last year with the assistance of former LME compliance chief Alan Whiting (see FO Week Vol 10 No 25), was last week establishing among market participants whether there...