Intermediation

The board of directors of the New York Mercantile Exchange (Nymex) has approved a series of measures to offer credit intermediation through clearing services and trading tools for the over-the-counter (OTC) natural gas market. The plan will include the introduction of exchange of futures for swap (EFS) transactions and large-order execution to the natural gas futures market within the next few weeks, along with the previously announced electronic trading of cleared natural gas swaps and basis contracts.