Wednesday, April 05, 2006

Trib says a deal between the NYMEX and MERC is getting closer

The Chicago Tribune is reporting that a deal between the NYMEX and Merc is getting close. The deal would likely bring energy futures contracts to the CME's electronic platform.

"But clearly this deal is expected. On Monday, a Nymex seat that includes trading rights and 90,000 common shares sold for a record $4.9 million, $1 million more than a sale a few weeks ago, a Nymex spokeswoman said."

"With energy prices soaring, the Merc has made plain its intention to invest some of its approximately $920 million in cash in petroleum and natural gas products, where its presence is minimal."

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