New York Mercantile Exchange Goes Electronic on Globex

In a previous report, we had mentioned that the New York Mercantile Exchange would have full-sized, side-by-side electronic futures contracts that trade on Globex, the electronic arm of the Chicago Mercantile Exchange. The move seems timely now that Russia has created an oil bourse that trades oil in rubles, and Iran has threatened to create an oil bourse that trades in euros.

The NYMEX electronic futures will begin trading on Sunday night, June 11, 2006. The contracts are said to be non-fungible, meaning that you can not open a trade in the open outcry pit and close the trade on Globex. The new electronic contracts will be cash settled. Here is a listing of the NYMEX contracts that should be available for trading on Globex:

– Crude Oil (penultimate)

– Heating Oil (penultimate)

– RBOB Gasoline (penultimate)

– Natural Gas (penultimate) – Natural Gas (last day)

– miNY Crude Oil

– miNY Natural Gas

– miNY Heating Oil

– miNY RBOB Gasoline

-Dustin Loob, Senior Analyst Iran War Times

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