NYMEX sets trigger for full electronic trading

[JayS]

http://www.reuters.com/article/marketsNews/idUSN2431401120080424

Very interesting.....

NYMEX Holdings Inc, parent of the exchange, said that the shift will occur when the average electronic volume has equaled or exceeded 90 percent of a contract's volume for two consecutive fiscal quarters.

 

[JayS]

In the filing, NYMEX said that in the fiscal quarter October-December 2007, average electronic trading volume for its premier crude oil futures contract was 83 percent, having risen slightly from the previous fiscal quarter, July-September 2007, when the average was 82.71 percent.

 

[nazzdack]

Will they manipulate the volume numbers to keep it below the threshold?.......NO WAY HOZAY!

 

[MandelbrotSet]

Quote from nazzdack:

Will they manipulate the volume numbers to keep it below the threshold?.......NO WAY HOZAY!

my thoughts exactly ... the second i saw thw terms of the contract