IPE vs Nymex crude volume

The IPE should launch a light sweet crude contract to counter NYMEX now it is a direct competitor.

That would really give the volume a chance to vote between open outcry and electronic.
 
Strategically, I dont know what they (nymex) were thinking of with this venture especially when the IPE screen had so much time to establish itself electronically after they closed the pits in April.
 
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It often seems like futures exchanges are entirely clueless about what is required for success and are quite surprised when they introduce a contract that actually works.

The IPE has a huge opportunity to grow their business as long as NYMEX sticks to the pits but I doubt it will manage to make the most of it .
 
I totally agree, and your comments about IPE should take nymex head on with an all electronic clone WTI crude contract are right on the nail... seems so obvious!

Apparently the IPE is going the IPO route quite soon so perhaps they will be a bit more adventurous when they get their flotation out of the way.
 
Arbitrageur said:
I totally agree, and your comments about IPE should take nymex head on with an all electronic clone WTI crude contract are right on the nail... seems so obvious!

Apparently the IPE is going the IPO route quite soon so perhaps they will be a bit more adventurous when they get their flotation out of the way.
Click to expand...

Do you have any experience with the IPE trading platform?
Does it have the same sort of spreading capabilities that CONNECT does?
One of NYMEX's stated reasons for not going electronic is the need to handle complex strategies and spreads.

These are fully implemented in CONNECT but if this functionality does not exist in
the IPE platform this will be a real obstacle to success.
 
I just met a trader who did a reasonable chunk of the 16k traded on the first monday of the floor at Nymex the other monday. He says there is just no paper, but that Nymex knew that would be the case before they went in to london - it was the same situation when Nymex were operating the floor at Dublin.

he thinks nymex brent is a ruse to get a foot into london, before opening an open outcry market for perhaps russian crude, or dubai sour oil. They didnt spend £30m getting into london for nothing....
 
russian oil would rock...as would options on it.....nymex have a 5 yr deal on that building..am up there agian tomorrow to see what i can glean....
 
hello arb. funny enough im up there tomorrow hoping to have lunch with an old liffe bloke whose put his money where his mouth is. hes kindly offered to give me the inside track on what s good and bad there..ill keep you posted.
 
hello arb..well ive been tempted, im signing on the dotted tomorrow and am going to put my toes in the water. it is, actually quite active and for the sizes ill start off with learning the ropes (again) i can get a good out on the ipe if needs be. ill keep you posted when i do my monkies!!!! :p
 
cool! I wish you the very best of luck, good fills and good fortune! (and the occasional scummed trade too) :cheesy:

make hay while the sun shines, and you never know, they may do very well! Though even if brent doesnt succeed in the pit against IPE electronic, if there really IS a russian contract on the horizon then you'll be in the right place.

Will you get a stripy jacket?
 
haha stripey jacket..naw ill be digging out my old red jacket which i thought wifey had thrown out but shes just informed me she didnt !!!!!

the russkie contract is a good possibility. listing wti aint ever going to happen cos the guys in ny would be up in arms given they own seats worth $3m to trade the ruddy thing. soi cant see them letting a bunch of limeys trade it for free.....
 
when you're settled in and got your feet under the table, any likelihood of being able to pop round and check the floor out/see you in action?

"AT BID! YOUR SIZE!!"
 
yeah no worries of course. i reckon the paper work will take two weeks. and the minute the inks dry ill get you round.
 
wow - this should be rather interesting!? especially since the emini Nymex crude has been having such difficulty since it was ported across to Nymex Access platform from the CME's globex, volume fell off a cliff for that product!
 
Hats of to ICE, they are doing the right things whilst NYMEX are blundering about in the pits.

Will be very interesting to see if ICE can do to NYMEX what Eurex did to LIFFE with the bund.
COMEX metals are also under attack from CBOT which is slowly sucking volume towards it's
electronic gold and silver contracts.

Heard that a lot of people that were using the mini just didn't like the clearport system.
Shame as it was starting to look like a viable contract.
 
Quick one - Nat gas looking interesting over next few weeks - anyone know got a view. Second most spreadbet cos trade it per tick and with 4digits up for grabs makes it bit too volatile and risky.
Thanks
 
Anyone looking at ICE WTI today?

I am getting quotes for the three front months but nothing else.
Anyone seeing quotes further out?
 
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