Nymex confirms plans to launch in London
The New York Mercantile Exchange (Nymex) today announced plans to open an open-outcry Brent futures floor in London. "It's our intention to move to London as soon as possible," Nymex president James Newsome told reporters in London.
Newsome even joked that Nymex's plans to move to London - which would put the exchange in direct competition with the International Petroleum Exchange - are "the worst kept secret" in the energy trading world.
However, further details of the plans were sketchy. There is so far no definite site for the
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