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While the new L.N.G. terminal is primarily designed to store L.N.G. for domestic gas demand, as well as to reload L.N.G. onto L.N.G. vessels for physical trading, it would be technically and physically possible to configure the terminal to provide L.N.G. as bunkering fuel for ships, "provided there is market demand for such service," Mr. Wong said.
Paul Chrispin of Principal Search, a recruitment firm, reckons that physical trading firms like Noble and Vitol have been on a recruitment drive among banks' derivative traders.
The exchange had planned to stay open electronically while closing its physical trading floor, but with the city going into emergency mode on Sunday night, the N.Y.S.E.
The New York Stock Exchange had previously planned on closing only its physical trading floor, while allowing for trading on its Arca electronic exchange.
The proposal has exceptions for currency trading and the physical trading of commodities, but not for derivatives like currency or commodity futures contracts.
David Colker, chief executive of the Cincinnati Stock Exchange, an all-electronic market that competes with the N.Y.S.E., said physical trading floors are inherently slower and more expensive than electronic markets.
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THE European Union may have removed most barriers to physical trade, but online it remains a prime example of provincialism.
"Our physical trade book business continues to be under some pressure," its chief executive, William Lynch, said in a conference call.
The World Trade Organisation, which oversees the free flow of physical trade, might be a suitable body for keeping digital goods and services flowing too.
Campanari and Bonfanti had participated in a number of physical trade shows globally but they felt these were often expensive, time-inefficient and complicated.
Citing complex calculations, the agency argued that the physical trades resulted in a loss of $4 million over the period, against gains of $35 million on the financial contracts.
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