Market regulation · 13/03/2002

NYMEX Seeks Commission Approval for Exchange of Brent Crude Oil Futures Contracts

The New York Mercantile Exchange (NYMEX) has submitted a proposal to the Commission to allow the exchange of futures contracts for Brent crude oil with other exchanges, enabling eligible participants to close positions on one exchange and open comparable positions on NYMEX. The proposal, which would be implemented on a one-year pilot basis, aims to facilitate the transfer of Brent futures positions between exchanges.