NYMEX acquires stake in Freight Futures Exchange
The parent company of the New York Mercantile Exchange, has acquired a 15.1 percent stake in the Oslo-based financial derivatives exchange IMAREX ASA.
NYMEX Holdings, Inc. acquired the interest in the exchange for $52 million from the tanker company Frontline Ltd.
IMAREX trades both freight futures for both tankers and dry cargo.
In addition to trading freight futures, IMAREX also trades derivatives in electricity, bunker fuel, carbon emissions, and salmon.
NYMEX acquires stake in Freight Futures Exchange
