Under the counter

Following on from last week’s hints about Nymex’s rapidly dwindling affection for its trading floor, this week’s New York news came from a shocking bit of speculation on one of the newswires that Nymex is contemplating moving out of its prestigious headquarters in downtown Manhattan in favour of the more prosaic charms of Jersey City, New Jersey. While you might expect me to be somewhat disparaging about the suggestion, I am actually rather in favour of the idea: quite apart from the reported $500m...