Middle East Economic Survey

VOL. XLVIII

No 11

14-March-2005

IPE To End Open Outcry Trading On 7 April

Londons International Petroleum Exchange (IPE) announced on 7 March that it would end open outcry trading of Brent crude and gasoil futures and options on 7 April. Closure of the trading floors will complete the IPEs transfer to electronic trading, which has been introduced gradually since 2002. The move has not been popular with small independent traders. The New York Mercantile Exchange (Nymex)...