Implied pricing on the CME Globex platform integrates bids and offers, in spreads and their underlying contracts, to generate additional liquidity and provide the best possible prices.
NYMEX Chairman Richard Schaeffer said, “We are pleased to offer our customers this enhanced functionality. NYMEX and CME have combined their strengths to provide innovative trading solutions to the energy industry.”
James E. Newsome, NYMEX President and Chief Executive Officer, said, “NYMEX strives to give the customers the broadest array of options for mitigating credit risk, using their preferred method of trading, whether open outcry or electronic, virtually 24 hours a day.”
"The implied spread trading functionality on CME Globex will further augment the electronic trading environment of NYMEX’s benchmark energy futures, ultimately adding to the liquidity of these electronic markets,” said CME Chairman Terry Duffy.
"Since the launch of NYMEX products on the CME Globex platform on June 12 average daily volume has been 78,000 contracts, reaching a daily high of 108,000 on June 21,” said CME Chief Executive Officer Craig Donohue. “We believe this new spread trading functionality will help to expand the growth of energy trading electronically.”
For more information, go to www.nymexoncmeglobex.com.
