News Release

New York Mercantile Exchange Records Highest Annual Volume

Mon Jan 10 2005
NEW YORK, N.Y., January 10, 2005 — The New York Mercantile Exchange, Inc., set an annual volume record of 163,157,807 contracts in 2004, shattering the previous record of 139,037,043 contracts set in 2003.

The 2004 total includes 14,512,591 energy futures and options contracts cleared through NYMEX ClearPortsm. In 2003, 6,004,276 contracts cleared through the system.

The annual total includes a record 133,284,248 Exchange–wide futures contracts and a record 29,873,559 Exchange–wide options contracts, which surpassed the 2003 record of 113,691,700 futures contracts, and the 2002 record of 26,384,716 options contracts.

Total NYMEX Division annual volume set a record of 134,023,050 futures and options contracts, surpassing the previous record of 114,663,501 contracts set in 2003. This total includes a record 110,055,712 futures contracts traded on the NYMEX Division, surpassing the previous year's record of 94,148,061 contracts. NYMEX Division options traded a record 23,967,338 contracts, surpassing the 2002 record of 23,868,006 contracts.

Total COMEX Division annual volume reached a record 29,134,757 contracts, breaking the 2003 record of 24,463,980 contracts. COMEX Division futures contracts traded a record 23,228,536 contracts, exceeding the 2003 annual volume record of 19,543,639, while COMEX Division options reached a record 5,906,221 contracts traded, surpassing the previous record of 4,920,341 set in 2003.

Metals futures volume reached a record 23,791,783 contracts, exceeding the 19,907,557 record contracts traded in 2003. This total includes a record 14,959,617 gold futures contracts, which broke last year's record of 12,235,689 contracts.

The Brent crude oil futures contract traded 135,385 contracts in the two months since it was reintroduced in Dublin, surpassing the previous annual record of 49,565 contracts traded at its original introduction in 2001.

New York Harbor heating oil futures set an annual volume record of 12,884,511 contracts, breaking the previous year's record of 11,581,670 contracts traded.

Gasoline futures set a record of 12,777,442 contracts traded in 2004, surpassing the 2003 record of 11,172,050 contracts.

Crude oil futures set an annual volume record of 52,883,200 surpassing the record 45,679,468 contracts traded in 2002.

e–miNYsm futures volume more than doubled its previous record with 856,544 contracts traded in 2004, compared to the 2003 record of 392,913 contracts. This total includes a record 720,421 e–miNYsm crude oil futures contracts, which surpassed the 2003 record of 277,411 contracts, and a record 136,123 e–miNYsm natural gas futures contracts, which surpassed the 2003 record of 115,502 contracts.

Total metals options reached an annual record of 5,906,858 contracts, breaking the 2003 record of 4,920,974 contracts. This total includes a record 4,667,523 gold options contracts, which exceeds the 2003 record of 4,310,318 contracts.

Other annual volume highlights include:

  • Crude oil calendar spread options reached a record 366,756 contracts, surpassing the previous year's record of 166,053 contracts.
  • Crude oil average price options, launched in November 2003, traded a record 23,622 contracts in its first full year of trading.
  • Natural gas calendar spread options set an annual volume record of 47,978 contracts, surpassing the record set in 2003 of 13,557 contracts.
  • Heating oil/crude oil crack spread options set a record of 98,503 contracts, exceeding the 1995 record of 72,969 contracts.
  • Gasoline/crude oil crack spread options set a record of 79,664 contracts, also breaking a record set in 1995 of 64,285 contracts.
In addition, the following annual volume records were set on NYMEX ACCESS®, the Exchange's overnight electronic trading system:
  • Total futures traded on NYMEX ACCESS® set an annual volume record of 8,239,700, breaking the previous record of 5,880,455 contracts set in 2003.
  • NYMEX Division futures trading set a record of 6,973,808 contracts, exceeding the 2003 record of 5,030,086 contracts.
  • Energy futures volume was a record 6,936,038 contracts, which broke the 2003 record of 5,017,703 contracts.
  • COMEX Division futures volume set a record of 1,265,892 contracts, surpassing the previous year's record of 850,369 contracts.
  • Light, sweet crude oil futures volume was a record 4,911,237 contracts, breaking the previous record of 3,433,976 contracts set in 2003.
  • Heating oil futures volume set a record of 558,142 contracts, versus the 2003 record of 358,115 contracts.
  • Gasoline futures traded a record 498,832 contracts, exceeding the record 293,060 contracts set in 2003.
  • Gold futures trading set a record of 846,297 contracts traded in 2004, breaking the 2003 record of 646,576 contracts.
  • Silver futures activity set a record of 348,640 contracts, surpassing the record of 168,136 contracts set in 2003.
  • Copper futures volume was a record 70,872 contracts, nearly doubling the previous year's record of 35,653 contracts.
  • Propane futures volume set a record of 1,976 contracts, breaking the record of 969 contracts set in 1996.
  • Palladium futures traded a record 15,895 contracts, smashing the 2003 record of 2,057 contracts.
  • Platinum futures traded 21,875 contracts, surpassing the previous record of 12,351 contracts set in 1999.
Exchange President James E. Newsome said, "This year's record–breaking volumes are remarkable indicators of the strong success that the Exchange has experienced over the past year. With the solid foundation that was set forth in 2004, we look forward to the year ahead with great expectations for continued product development, trading floor technology, and global expansion."

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Forward Looking and Cautionary Statements
This press release may contain forward–looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward–looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward–looking statements. In particular, the forward–looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward–looking statements.
 

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