Nymex reclaims share of precious metals complex

New York Mercantile Exchange (Nymex) has reclaimed the top spot in precious metals marketshare from Chicago Board of Trade (CBoT), as electronic metals trading in New York has been quickly adopted by its members spurred by doubts over whether its competing contract will be around once Chicago mercantile Exchange (CME) completes its takeover of CBoT this summer.

Since launching side-by-side trading of Comex metals CME's Globex platform in December, electronic volumes have quickly gained steam and now account for about 76% of its total metals volume. Offering electronic trading has also broadened the user-base...