e nymex market forces enymex still launchpad market forces enymex still launchpad 09 07 2001 energy compass c 2001 energy intelligence group rights reserved new york mercantile exchange thinking shifting business online since early last year possibly invited join electronic ice rejected offer rival international petroleum exchange since gladly accepted instead unveiling plans last may build electronic trading platform counter smaller futures contracts cyberspace initiative still launchpad called enymex online system supposed launch october 2000 time big oil backed ice october came went ice appeared enymex failed show start date pushed back late 2000 first quarter 2001 second quarter year nymex held second quarter target months failing deliver given third quarter well exchange executives stopped trying predict electronic trading platform ready go blow nymex e trade strategy delays also plaguing internet version existing access hours electronic trading system although remains available proprietary dial system existing customers late last month nymex announced plans make access available internet www nymexaccess com move designed widen customer base days planned sep 3 start date exchange pulled back ec aug 31 p 3 enymex new date yet scheduled launched 1993 dial version access handled 2 1 million contracts last year equal 2 nymex total trading volume nymex executives say putting access web could triple volume business completed platform exchange new brent crude oil futures contract existing pit traded contracts available access compared ice steadily unveiling new services products e trade system new york exchange path building electronic platform bumpy earlier year nymex ended relationship accenture formerly andersen consulting involved managing exchange transition electronic trading platform almost start observers characterized move cost cutting measure nymex says accenture dismissed work done nymex blames many delays globalview software one technology partners involved bitter legal dispute april nymex filed breach contract lawsuit new york court globalview alleging chicago based software firm stopped work enymex seeking unspecified damages globalview chief executive jon olson admits company indeed stop work says nymex stopped paying countersuing seeking around 26 million fees damages nymex president bo collins also claiming globalview gone bankrupt olson says business good 20 year old company around 150 clients energy industry globalview project nymex decided build front end piece enymex part globalview working complete nymex e trade platform derivatives smaller futures contracts separate e trade service hours customers also existing pit traded contracts intention ditching many different pieces observers wonder nymex collins one time natural gas trader us based el paso responds nymex aims build electronic cloud around successful pit contracts rather disrupt successful business collins says exchange creating new electronic trading opportunities around pit traded products reality system pit trading provides immense liquidity market says got figure way marry technology humanness process example nymex henry hub natural gas futures contract successful several types contracts trade exchanges based henry hub price enymex come collins says e trade platform offer spread basis swaps contracts based prices nymex pit contracts thus marrying technology trading pit observers suggest enymex roll taken back seat exchange newest product brent crude oil futures contract challenging ipe new contract started trading sep 5 joined following day new brent options contract sep 7 new york exchange started offering brent wti spread options contract battle hearts minds brent traders rage traditional trading pits new york london another year least next 12 18 months ipe business shifted online futures trading platform built ice ipe strategy clear agreeing acquired ice london exchange obviously sees future commodities trading takes place cyberspace trading pit nymex betting electronic cloud strategy whereby e trade married pit trading pay end though e trade versus pit trade battle waged world two biggest oil futures exchanges may become secondary battle brent nymex create liquidity new brent contract bumpy path toward e trade may forgotten jeff gosmano houston folder name e nymex relevance score scale 100 95 review revise folder visit contact dow jones customer service e mail custom news bis dowjones com phone 800 369 7466 outside u canada call 609 452 1511 contact local sales representative copyright c 2001 dow jones company inc rights reserved