The New York Mercantile Exchange has purchased the assets of Confirmation Clearing Corp., a firm that provides software to confirm over-the-counter (OTC) energy transactions.
Exchange president J. Robert Collins, says that the Exchange plans to make this software available as part of its initiative to service the OTC trading community.
"In the next few months, we plan to extensively broaden the products and services available to this segment of the trading community and truly make the New York Mercantile Exchange the one-stop shop for the entire energy industry," he says. "The e-confirmations that this software provides will add increased efficiency and transparency to OTC business."
The Nymex is invting industry participants to participate in a pilot programme; more details at www.confirmcorp.com.