Nymex Europe Limited announced that the Financial Services Authority yesterday recognized it as a U.K. investment exchange.
The application was filed on April 7.
The Exchange announced last week that will begin trading Brent crude oil futures and options and Northwest Europe gasoil futures on September 12.
Samuel Gaer, chief executive officer of Nymex Europe, said, "We greatly appreciate the cooperation of the FSA during this process. We look forward to launching open outcry trading in London next week, as our customers have requested." Roy Leighton, chairman of Nymex Europe, said, "This is the culmination of many months work. We are pleased to work with the Financial Services Authority as we enter into this exciting new venture in London."