Printer Friendly

LAUNCH DATE SET FOR NYMEX ACCESS

 NEW YORK, April 15 /PRNewswire/ -- The New York Mercantile Exchange (NYMEX) last night named June 24 as the launch date for NYMEX ACCESS(SM), its overnight electronic trading system.
 NYMEX ACCESS was developed by the exchange together with AT&T and Task Management Inc. The system, which will operate Monday through Thursday evenings, between 5 p.m. and 8 a.m. (New York time), will offer trading in the exchange's crude oil, heating oil, and New York Harbor unleaded gasoline futures and options contracts and platinum futures. Sunday evening trading sessions will begin at 7 p.m. and there will be no sessions on Friday and Saturday nights.
 At launch, approximately 100 terminals will be in use in the United States. The exchange is also anticipating approval soon to install terminals in Great Britain. Eventually, the exchange plans to place workstations in other countries around the world, with a focus on the Far East.
 NYMEX President R. Patrick Thompson said, "As the world has increasingly become a seamless global marketplace, there has been a heavy demand for us to export the liquidity of NYMEX's energy and PGM markets and provide the exchange's risk management services during overseas business hours. NYMEX ACCESS was carefully designed to mirror the structure and integrity of our successful open outcry markets, attracting new players while offering additional opportunities to our members and their customers. We are very pleased with the rapid time frame within which we were able to develop a state-of-the-art system to meet those goals."
 L. Scott Perry, AT&T vice president of sales, business communications services - eastern region, said, "Because each communication is as binding as a handshake between lifelong trading partners, NYMEX's new system requires the highest level of speed and error-free transmission. AT&T's commitment is to provide NYMEX with a global network such that a trade from Tokyo has the same level of access as one from New York. As a global communications and computer company, AT&T is uniquely qualified to package the complex network and back-up facilities vital to ensure that level of sophistication."
 -0- 4/15/93
 /CONTACT: Nachamah Jacobovits, 212-938-2883, or Andrea Stassou, 212-938-4060, both of NYMEX; or Catherine Montagano of AT&T, 212-841-4713/


CO: New York Mercantile Exchange ST: New York IN: OIL SU: PDT

SM-CK -- NY037 -- 6158 04/15/93 10:58 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 15, 1993
Words:390
Previous Article:COLTEC INDUSTRIES REPORTS FIRST QUARTER RESULTS
Next Article:JCPENNEY ANNOUNCES ORGANIZATIONAL CHANGES AND NEW OFFICER APPOINTMENTS
Topics:


Related Articles
NYMEX, AT&T AND TMI TO SIGN CONTRACT ON ACCESS ELECTRONIC TRADING SYSTEM
NYMEX, AT&T AND TMI SIGN CONTRACT TO BUILD ACCESS ELECTRONIC TRADING SYSTEM
NYMEX, COMEX MEMBERSHIPS AGREE TO MERGE
Zahr Securities Signs for WatcherPlus(TM) Trading System.
NYMEX, CME Partner to Offer E-Mini Energy Futures; Cooperation Agreement Includes Cross-Access and Cross-Margining.
APB Energy Brokers First New York Mercantile Exchange Cleared OTC Power Transaction.
Trading Technologies' Achieves NYMEX Certification and Prepares to Launch Connection on July 19.
NYMEX Sets Daily Volume Records for Heating Oil Futures, CME Globex(R).
NYMEX Sets Daily Volume Records for RBOB Futures and Crude Oil Options on CME Globex(R).
NYMEX Sets Daily Volume Record for Crude Oil Futures on CME Globex(R).

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters