Some Still Love Coal as Exchanges Battle to Dominate Market
- CME takes market share from ICE as trading jumps in 2015
- Exchange groups' fight intensifies as regulators tighten rules
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Coal may be under attack from the Paris climate deal and governments promising its demise, but the world’s biggest exchanges covet the fuel more than ever.
The organic rock used to generate 40 percent of the world’s electricity is at the center of a hard-fought battle for trading revenue in Europe between CME Group Inc. and Intercontinental Exchange Inc. CME has been winning for the past three years as the Chicago-based bourse offered incentives to brokers and simpler trading. ICE, the dominant energy market in the region, cut fees to zero and bought a trading software provider to get direct access to brokers.