Physical contracts could be shot in the arm for Nymex Globex

07 Aug 2006

New York Mercantile Exchange (Nymex) has set 5 September as the date for listing physically delivered contracts on Chicago Mercantile Exchange (CME)'s Globex system, alongside those contracts offered on the exchange floor.

The contracts include Nymex's WTI crude, natural gas, heating oil and gasoline futures contracts They were set to...

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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.