November 21, 2006
Nymex Holdings, Inc. (NYSE NMX) just announced the launch of 24 7 Electronic Trading via Chicago Mercantile Exchange (Nasdaq CME). This will add some zest to the stock tomorrow and send it up a few handles before the holidays. As I mentioned in my post "The Nymex IPO - Why Nymex Holdings Is Worth $500", "Chances are I think the story gets better with Nymex because Nymex is not even close to being a fully electronic exchange. With electronic trading, volume will skyrocket and profits with it." Simply observing the oligopolistic behaviour of these exchanges shows you that the profits in the sector will only rise. These exchanges know it's not good to compete and fragment liquidity, because liquidity is the lifeblood of an exchange. Rather than competing with CME, Nymex is partnering with them, and it's very good for shareholders.
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