The London, UK-based company said conformance tests have been passed and live trading will begin shortly, when front-end and API users will have connectivity to commodity contracts such as crude oil, gasoline, heating oil, natural gas, electricity, gold and silver.
The New York Mercantile Exchange (Nymex) will employ Patsystems’ J-Trader front-end platform to gain floor order routing and electronic access through Neon, the exchange’s electronic order network.
The Nymex connection follows last month’s announcement that Patsystems has connected to the International Petroleum Exchange (IPE) in London. Commenting on the latest move, Patsystems CEO Kevin Ashby said: We are building a strong presence in energy markets, with connections to Tocom, IPE and now Nymex, and see the development of energy trading as a strong focus of our electronic business.
