NYMEX CEO: Optionable Is Not an Exchange

Includes: NMX, OPBL
by: Thomas Kelly

Just passing along a very good read sent to me by one of my readers. The comments by the NYMEX (NMX) CEO should soothe Optionable (OTCPK:OPBL) investors a bit.

NYMEX CEO Interview

Finally, for all of you who are screaming about the NYMEX/IntercontinentalExchange, Inc (NYSE:ICE)/Chicago Mercantile Exchange Holdings (NASDAQ:CME)/CBOT (BOT) possibilities causing hardship for OPBL, you obviously still don’t understand what OPBL does. I will say this once again, they are not an exchange. They are not an electronic exchange. They do not compete with ICE. OPBL is a broker, which will survive regardless of who owns the exchange. Saying that OPBL will not be around if CME buys NYMEX is just being uninformed. That would be like saying that because Nasdaq is entirely electronic, that they will cut out the middlemen (brokers) and handle everyone’s account. It hasn’t happened yet, and its not going to happen. It is not cost effective, and there would be huge regulatory concerns if it was attempted.