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To: long-gone who wrote (85297)	5/10/2002 12:31:28 PM
From: long-gone	Respond to of 116822

IPE Postpones Plans To Extend Electronic Trading Hours Thu May 9, 5:40 AM ET LONDON -(Dow Jones)- London 's International Petroleum Exchange has postponed plans to introduce after-hours electronic trade for its Brent crude contract, an IPE spokeswoman said Thursday. "Plans for post-settlement trade have been postponed until further notice whilst we address the concerns that were raised," she said. The IPE sent a circular to shareholders April 26 proposing the introduction of a late evening electronic trading session, or "post-settlement trading," to run from 1840 to 1930 GMT . The proposal was met with little enthusiasm by many floor brokers, who were concerned that their hours would be extended while little extra business would be generated by the session. When the Intercontinental Exchange bought the IPE in July 2001 , it announced intentions to end open outcry and switch completely to electronic trade for its Brent, gasoil and natural gas contracts within a year to 18 months. The ICE was launched in May 2000 to offer over-the-counter trading in physical and cash-settled derivatives based on oil, natural gas, power and metals. It is a consortium created by Deutsche Bank AG (Other OTC: DTBKY - news) (DB), Societe Generale (F.SGF), Goldman Sachs Group Inc. (GS) and Morgan Stanley Dean Witter & Co . (MWD), and energy companies BP (BP), Royal Dutch/Shell (RD) and TotalFinaElf (TOT). -By Stella Farrington, Dow Jones Newswires; 4-9346; stella.farrington@dowjones.com story.news.yahoo.com