Nymex To List Softs

I'm thinking this is bad. NYBOT (due to the ICE acquisition) will certainly list their contracts electronically and soon. Having exact duplicates on NYMEX will only weaken the possibility for these new contracts to attract liquidity, particularly with side-by-side trading happening at NYBOT.

One wonders why NYMEX didn't do this 3 years ago? Had they, NYBOT would have been in serious trouble.
 
Good point FA...I imagine Globex wins in the long run. Trading CL (in the short term) is a dream now, but where to find liquidity for the nearby contracts could be interesting come January. I've not traded on ICE, so don't know how it "feels". As mentioned, the outcome should be interesting to say the least...
 
Quote from FullyArticulate:

I'm thinking this is bad. NYBOT (due to the ICE acquisition) will certainly list their contracts electronically and soon. Having exact duplicates on NYMEX will only weaken the possibility for these new contracts to attract liquidity, particularly with side-by-side trading happening at NYBOT.

One wonders why NYMEX didn't do this 3 years ago? Had they, NYBOT would have been in serious trouble.
More...


Am i imagining things, or does this look like a last minute value adding effort?

Its ALL going electronic, soon enough, right?
In five years time, it wouldnt surprise me if the entire north american bourse is flying under one banner.
 
Did anyone hear anything about these contracts before yesterday? They really didn't give a lot of nitice on this, how do they expect to attract volume if noone know about the contracts?
 
It's about time somebody did it. NYBOT snoozed (and so did nymex for that matter in waiting so long... everyone cheering about record vol. etc... why didn't they do it in '96 instead of '06?)

But it is good news for me as I'm tired of dealing w/ those bandits on floors.
 
Quote from Jaime:

Did anyone hear anything about these contracts before yesterday? They really didn't give a lot of nitice on this, how do they expect to attract volume if noone know about the contracts?
More...
Wow, I had totally missed that part of the press release:
"beginning today at 6:00 PM for trade date December 21 ."

IQfeed has these symbols:

QKT - Coffee
QFJ - Orange Juice
QFT - Sugar #14
QYO - Sugar #11
QCJ - Cocoa
QTT - Cotton

Cotton shows a trade on 7/9/07, but that could just be bad data. Otherwise, none of them show any trades in the front month today.

Sounds like NYMEX didn't do that hard work of actually attracting a market maker or two. This has the feeling of a "stick it to NYBOT" move, rather than a serious contract.
 
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