Source: D E Shaw group
The D E Shaw group announced today that one of its affiliates, D E Shaw Plasma Portfolios, LLC, was recently approved for membership in the NYMEX Division of the New York Mercantile Exchange, the world's largest physical commodities exchange.
This marks the first time in the New York Mercantile Exchange's 135-year history that a firm historically focused primarily on alternative investment strategies has held a membership on the exchange.
"We're very pleased to have our membership approved by NYMEX's Board of Directors, and believe this approval marks an important milestone in the continued institutionalization of the hedge fund industry," said Kevin Fox, a managing director of D E Shaw & Co, LP and head of the firm's energy group. "Our member status meaningfully reduces our cost of trading on the NYMEX platform, and we thus expect to see an increased volume of orders we place there."