Electronic trading tipping point passed?
This gets Nymex into the electronic trading arena much more quickly, having missed the boat in the past, clinging to an increasing untenable business model. On the face of it, it’s a smart tactical move although longer term one has to wonder if outsourcing electronic trading mortgages their future.
This is another possible exchange model that will be interesting to watch to see how it succeeds and evolves.
Meanwhile…in other exchange news the FT reported that Borsa Italiana had pencilled in a date in the fourth quarter to proceed with its listing. It is currently owned by a grouping of almost all Italy’s main banks.
