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-----Original Message-----
From: djcustomclips@djinteractive.com
[mailto:djcustomclips@djinteractive.com]
Sent: Tuesday, February 05, 2002 2:48 PM
To: 168842@mailman.enron.com
Subject: Rahil Jafry: USA: Commodity exchanges NYMEX, ICE in alliance
talks-source.


USA:
Commodity exchanges NYMEX, ICE in alliance talks-source.

02/05/2002
Reuters English News Service
(C) Reuters Limited 2002.

NEW YORK, Feb 5 (Reuters) - The New York Mercantile Exchange (NYMEX) and
web-based IntercontinentalExchange (ICE) have reopened talks aimed at an
alliance between the two commodity exchanges, a source close to the
negotiations said.

"There have been a number of meetings over the last 2-3 weeks aimed at some
sort of closer business association. They may not come to anything but it's
fair to say that conversations are going on," the source said.
NYMEX is the world's leading physical commodity exchange, but at ICE, which is
backed by top oil and power companies, business has boomed since the demise of
previous internet leader EnronOnline.

ICE, which trades a range of energy and metals contracts, has already taken
over London's International Petroleum Exchange (IPE). Prior to the IPE/ICE
merger NYMEX and ICE held alliance talks that came to nothing.

A NYMEX spokeswoman declined comment but said the exchange was always
interested in considering potential strategic alliances.

NYMEX has had to shelve its planned web exchange enymex and also operated on
shortened trading hours since the Sept 11. attacks on the nearby World Trade
Center. NYMEX seats have been trading at sharply higher prices in recent weeks.



Folder Name: Rahil Jafry
Relevance Score on Scale of 100: 87

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