New York Mercantile Exchange (Nymex) will look to develop its existing contracts while also finding encouragement from joint ventures in Canada and Dubai, said president Jim Newsome.

Newsome told FO Week at the Canadian Annual Derivatives Conference in Montreal that the exchange is seeing early success in its ethanol swaps futures contracts, trading more than double competing contracts at both  CME Group and ICE Futures Exchange.

The exchange is also refocusing on its emissions complex which has been largely stagnant since launching nitrogen oxide and sulfur dioxide futures in 2005.

“We’re...