IPE vs Nymex crude volume

[Directional]

I may be missing something, but IPE's brent crude volume is showing a peak of 187,000 contracts in July where Nymex only looks like it did 145,000 peak during the same month...

Are Nymex light sweet crude futures contracts a different spec to IPE Brent? I didnt think they were.

Could IPE be winning the volume battle for liquidity I wonder? Would be great if they did!

 

[TWI]

Different contracts Nymex trades West Texas Intermediate(WTI) , IPE trades Brent.
Don't know about the volume but surprised if IPE is higher.

 

[jmreeve]

IPE is doing very well since it went electronic.

Whilst NYMEX continues to resist electronic trading it's markets are vulnerable in the same way
LIFFE was when Eurex stole the Bund contract from it.

 

[TWI]

IPE has certainly offered some opportunity to spread traders since it went electronic. I hear some locals taking 8+ ticks on a spread as a near enough arb. Interestingly whereas a lot of the Liffe locals tripped up when they tried to go to screen, so far the IPE boyz appear to be coping well. Only problem most of them are struggling with is how to plug in and turn on a PC and understanding that waving the mouse at the screen shouting "mine" or "yours" didn't execute anything.

 

[Directional]

LOL

 

[Anonymous]

Trading by screen requires some things very different from trading by shouting and making funny gestures.

One may need to be a commando at the pit, but in front of the screen it's the fighter pilot who takes control.

 

[Directional]

you can still go commando at the screen though...

 

[TWI]

LOL!
May I suggest you go commando on a commode as in my experience toilet breaks can often be very expensive. Mybe this is a new idea for the arcades.....

 

[Directional]

in my experience toilet breaks can often be very expensive.

twalker,
any experiences you care to share?

I dont know if its legend but I heard a tale of a trader who took a bathroom break with some hefty orders working in euribor, only to return to his desk and find he was filled and down a substantial sum!

 

[charliechan]

the funniest was when they held a farting contest in the ftse pit. one guy tried a bit too hard......ooops. shouldnt of had that curry mate!

we didnt see him for 3 days after from embarrasement.

what platform is the IPE on? did they buy connect from liffe or something else?

 

[oatman]

the funniest was when they held a farting contest in the ftse pit. one guy tried a bit too hard......ooops. shouldnt of had that curry mate!

we didnt see him for 3 days after from embarrasement.

what platform is the IPE on? did they buy connect from liffe or something else?

In trading terms that's known as "follow through"

 

[Directional]

the funniest was when they held a farting contest in the ftse pit. one guy tried a bit too hard......ooops. shouldnt of had that curry mate!

we didnt see him for 3 days after from embarrasement.

what platform is the IPE on? did they buy connect from liffe or something else?

LOL, the pits must have been a great laugh to work in - a bunch of guys working together, I'm sure there must be some great tales to tell from back then. Someone should start a thread just for pit stories.

I dont think IPE bought connect, I think its a matching engine of their own construction.

 

[sbsean]

Nymex trades both WTI and funnily enough it's own less liquid Brent. ( amongst many others of course).

Do you use esignal at all? since they usualy post the wrong volume.
I' ve got 289K on the 10th Aug as it's highest, but i may be wrong too.

 

[Directional]

i got the volume figures off nymex website for light crude contract... possibly I was looking at the wrong data

 

[Directional]

well, here's the IPE's newest competitor... www.nymexeurope.co.uk
will be a very interesting contest seeing how the nymex pit vs the IPE screen works out in the volumes

 

[Anonymous]

Is that going to be trading the same product, at the same time when New York opens London opens, when New York floor trades London floor trades?

Or can the two places be used to arb the same contract?

 

[jmreeve]

I think NYMEX has lost the plot.

They opened up a floor in Dublin and I don't think it has done too well and they are very vulnerable to competition from electronic exchanges.

I heard they have had to reconsider plans to move the crude mini from globex to clearport in order
to secure a no compete agreement from the CME.

People want electronic energy trading and NYMEX will have to acknowledge that eventually.

 

[Directional]

anon,
yes, as I understand it, they are trying to launch clone brent and gas pit contracts to trade from 10am thru 7.30pm in direct competition.

Apparently Nymex think that participants want "the greater liquidity and transparency of open outcry" rather than all this smoke and mirrors of electronic trading.

 

[jmreeve]

Apparently Nymex think that participants want "the greater liquidity and transparency of open outcry" rather than all this smoke and mirrors of electronic trading.

I know, but they will learn eventually.
However, as they are all pit traders it might just take a bit longer than usual. :cheesy:

 

[Directional]

have to see where the volume places its vote... Nymex open outcry pit launches in London on 12th Sept, this month. watch this space...