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London IPE Closed, Traders Moved To Dublin

Open outcry trading at London's International Petroleum Exchange

London IPE Closed, Traders Moved To Dublin

Open outcry trading at London's International Petroleum Exchange closed yesterday after almost 25 years of noisy business.

IPE is switching to a fully electronic system; a move it says will better meet client needs and boost efficiency.

Many traders, who have been working here, are unhappy with the move.
They will relocate to a rival exchange in Dublin that is being run by the New York Mercantile Exchange.

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