The Financial Times is reporting that Nymex has set a June 3 date for a member meeting to discuss Nymex bylaw 311-G, which in effect says that that should Nymex end floor trading for a listed product, or Nymex list it only for electronic trading, or if 90% of the volume is traded electronically, members would be entitled, in perpetuity, or until the exchange no longer lists the product to trade electronically, to whatever is greater: 10% of the gross revenue or 100% of the additional fees or surcharges.
As a thought experiment, substitute “no longer exists.” for “no longer lists…”
And another thing…
