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NEW YORK (AP) - The Chicago Mercantile Exchange Inc. will become the exclusive electronic trader of energy futures and options listed on the New York Mercantile Exchange, the two companies said Thursday.
While energy futures and options on crude oil, natural gas, gasoline and other products will still be traded on the floor of the NYMEX, CME will take over all electronic trading of these products both during the floor session as well as before and after it, company executives said in a conference call with reporters. The agreement will last until 2016.
"This agreement will provide additional liquidity to the floor and our open-outcry system, and will also significantly expand our international accessibility," said NYMEX Chief Executive James Newsome.
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