Watch closely now

摘要

In February, Chicago Mercantile Exchange (CME) Chairman Terry Duffy told me his exchange would be entering the energy complex in some way, shape or form. This was in the midst of rumors that the CME was buying the Intercontinental Exchange (ICE), which had launched electronic energy futures contracts, and the unceremonious sniping between the CME and New York Mercantile Exchange (Nymex), after e-mini energy contracts moved off of Globex to Nymex's ClearPort platform. Part of the Nymex membership wanted to keep the energy contracts on Globex, which they said was a superior trading platform to ClearPort. Nymex stalwarts disagreed, stating ClearPort had been updated and was ready to rumble.