Nymex plans for energy bourse in Singapore

Jun 25, 2004 02:00 AM

The New York Mercantile Exchange (Nymex), the world’s largest energy exchange, plans to open a bourse in Singapore for energy contracts with a target to start operations in 2005, the exchange said.
"This is the real deal. The exchange would mirror what we have in New York. It would be very similar," said departing exchange president Robert ’Bo’ Collins, Jr, in Singapore to meet potential partners.

Collins said the Singapore exchange would offer electronic, over-the-counter as well as on-the-floor trading for crude oil, oil products, LPG and LNG. He expects Nymex to make a formal announcement on the exchange within the next few months.
"We are now in talks with potential partners," said Collins.

Collins, who said Nymex had also considered Japan and China as possible locations for such a bourse, said Singapore was an ideal location given its current status as the region’s oil trading hub.
“There are no regulatory issues and Singapore has the right technology,” he said, before catching a flight to Dubai.

Source: Business Day
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