The New York Mercantile Exchange is to close its open outcry trading floor in London on June 9 after announcing that trading in its Brent crude oil and Northwest gasoil futures contracts would be done solely electronically beginning June 11.
Nymex Europe said that the energy contracts would be traded on the Chicago Mercantile Exchange’s Globex platform. Nymex only moved its European trading floor to London in September of last year.
In a separate development, Nymex has reached an agreement to launch mini-Nymex energy contracts on the Multi Commodity Exchange of India. This agreement will cover WTI Light Sweet Crude Oil, Natural Gas, Heating Oil, Gasoline, RBOB Gasoline and Propane futures contracts of Nymex.