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Patsystems connects to the New York Mercantile Exchange

Patsystems builds further business in energy markets Patsystems, London, Tuesday 22 March 2005. Patsystems, the global supplier of trading technology and exchange systems technology, has created an exchange-specific adapter (a software link) for the New York Mercantile Exchange (Nymex). Conformance tests have been passed and live trading will begin shortly.

Patsystems’ front-end and API users now have connectivity to a vast range of commodity contracts such as crude oil, gasoline, heating oil, natural gas, electricity, gold and silver.

Nymex is the world’s largest physical commodity exchange. Although predominantly open outcry, it has a growing electronic business that Patsystems will support through the distribution of its J-Trader front-end. Patsystems will provide floor order routing and electronic access through NEON, the exchange’s electronic order network, introduced in October 2004.

The Nymex connection follows the announcement at the beginning of February that Patsystems has connected to the International Petroleum Exchange (IPE) in London. Commenting on the latest connection, 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.’

Nymex President James E Newsome said: "The exchange is pleased to partner with Patsystems to provide energy and metals industry customers with greater accessibility to its risk management products."