Nymex profit increases by a third

Nymex has increased profits by more than a third in the first half of this year due to a rise in electronic trading, and the US commodities exchange said it would make "significant" cost cuts in this quarter as it reviews its floor operations.

For the first six months of this year, net profits at Nymex rose to $98m (€71.5m), from $71.8m in the same period last year.

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