Brent and the International Petroleum Exchange

David Peniket ()

Chapter Chapter 7 in Brent Crude Oil, 2023, pp 91-109 from Springer

Abstract: Abstract This chapter is a fascinating story of how a small, electronic platform eventually bought a major oil exchange. Electronic trading had solid support from some of the biggest names and liquidity providers in oil trading: BP, Shell, Total, Goldman Sachs, and Morgan Stanley. In return, investing in the exchange was probably the most profitable venture they ever made. It is also a story of how the selfish interest of a few entrenched incumbents, supporting the old, open outcry trading method can backfire spectacularly.

Keywords: Electronic trading; ICE; Liquidity; Open outcry (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-28232-4_7

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DOI: 10.1007/978-3-031-28232-4_7

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