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The New York Mercantile Exchange's 40 000 sq ft emergency backup facility was opened on Long Island in the spring of 2003. The installation is designed to take over after a major disruption at the main building, 20 miles away, in Downtown Manhattan.
In theory, NYMEX's characteristic open out-cry trading can resume on LI within 4 hours of the initial interruption in Manhattan. While planning for the backup center had already...more »