Will NYMEX accept stop orders on Globex?

Discussion in 'Trading' started by Nasdaq5048, Apr 19, 2006.

  1. Does anyone know whether NYMEX will finally accept stop orders on the globex , especially for the e-MiNY?
  2. jumper


    i think nymex uses access and not globex. globex is owned by the chicago merc.
  3. NYMEX has outsourced execution to the CME on Globex.
  4. jumper


    oh ok. thanks riskarb. does it run concurrently with access?
  5. They will move to globex sometimes in Q3. I stopped trading NYMEX's stuff because i don't want to babysit my trades. With the decrease in contract size of nat. gas, and the increase in liquidity, it is very attractive to trade NYMEX's e-miNY, given stop orders are available.
    So, would anybody who is close to the globex deal have any insights on whether they would allow stop orders on the new platform. I mean the technology is there, the e-mini S&P and the currencies allow stop orders.
    I am hoping, HOPING they will accept stop orders, so i can trade NYMEX's products again. But, i am not too optimistic.
  6. dhh


    nymex will be listed friday on globex (4/21)
  7. Xenia


    Any updates from NYMEX ?
  8. cresta


    spoke with andy gooch last nightand he says june will see start of transition
    cash settled first and physical settlement to follow .
    oils and spreads will lead and metals therafter.

    would nt be drawn on trading costs ,but obviously saw that competion in the first instance wityh ICE wld create downwards pressure on status quo.

    apparenetly nymex had board meeting last night for various elected positions ,but these details were also on agenda
  9. Xenia


    NYMEX Announces Implementation Plans For Side By Side Trading on CME Globex®

    New York, N.Y., May 3, 2006 — The board of directors of the New York Mercantile Exchange, Inc. unanimously voted today to offer both cash-settled and physically delivered NYMEX Division energy futures contracts for trading on CME Globex, the electronic trading platform of the Chicago Mercantile Exchange.

    At the time of the initial phase of the launch, scheduled for the second quarter of 2006, NYMEX will offer cash-settled energy futures contracts for all listed months. The second phase of the launch will offer physically delivered energy futures contracts no later than six months from the initial launch.

    The new NYMEX board, under the leadership of Chairman Richard Schaeffer, also voted to increase the maximum order limit size for all NYMEX miNYTM futures contracts to 999 contracts. In addition, it approved an exchange of futures for swaps mechanism for crude oil futures. NYMEX will also be adopting CME Globex electronic trading hours.

    Mr. Schaeffer said, "NYMEX is excited to offer this additional avenue into its hugely popular and successful energy complex. Market participants may continue to rely on the price transparency and liquidity they have grown to expect from NYMEX while utilizing the highly respected CME Globex electronic trading platform.”

    James E. Newsome, NYMEX president and chief executive officer, said,” The future of NYMEX will be shaped by its pairing with the CME to provide futures markets participants the best of both worlds, while significantly expanding access to NYMEX energy contracts through the CME Globex global distribution network”
  10. Xenia