The New York Mercantile Exchange has criticised customers for turning their backs on its European open outcry market just six months after its launch. The exchange is now preparing to switch all trading to screens.

Andy Gooch, chief executive of Nymex Europe, told Financial News: "Nymex listened to its customers in launching the open outcry market in November 2004. By looking at the volumes it is clear that those who said they wanted the service didn't.