Nymex to proceed with IPO

16 Oct 2006

New York Mercantile Exchange (Nymex) members were expected to approve plans for an initial public offering last week, a move that would make it the fourth publicly traded US futures exchange.

The approval would allow the exchange to fulfil its agreement...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.