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Nymex floor loses its voice to electronics

Source: Financial Times, 31st May 2011

It is 9:15am on the floor of the New York Mercantile Exchange and half the gold and silver options trading ring is empty. The gasoline and heating oil options pit contains nine men. In the crude oil and natural gas options pit that serves as the televised face of energy trading, brokers and market makers gaze at handheld computers, occasionally shouting a bid.



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