New York Mercantile Exchange One Step Away from $155

The New York Mercantile Exchange (NMX)  listed their pad, their 15-floor tower at the World Financial Center.  Is there anymore of an indication of buyout then that?  Don’t you sell your old place before you move in with your new spouse?  The only negotiating term remaining is probably just price and management configurations.  Let’s thinking about it.  They are a derivatives market specializing in energy with the ability to expand to other derivative markets.  New York Stock Exchange Euronet (NYX) wants to get into the derivatives market.  They happen to be very close to one another.  Wow big surprise, NYSE is the bidder.  So it’s just a waiting game now.  I say wait.  (Disclosure: I’m long NMX – who recently boosted prices on transactions and had record volume as well as great earnings).  But I say if there was a safe bet, this would be it.  These are serious negotiations but of course they could still break down but does NYSE have a choice other than to get into the derivatives market with the Chicago Board of Trade and Chicago Mercantile Exchange merging into the CME Group (CME) after a tough battle with Intercontinental Exchange (ICE) who does not want to be sold and is the major rival of the Nymex.  Will the NYSE and it’s equities exchange who faces massive competition able to survive along?  Currently the Nymex is trading at about $127 after a 5% jump today.

Eric Bolling of Fast Money is on the board of the Nymex – be observant of how he is acting today on the show who said before that the Nymex will be sold before Labor day!