News Release

Exchange Announces New Gasoline Options Contract

Mon Oct 03 2005

New York, N.Y., October 3, 2005 — The New York Mercantile Exchange, Inc., today announced that it will introduce a New York Harbor reformulated gasoline blendstock for oxygenate blending (RBOB) options contract for open outcry trading, beginning on October 10.

The RBOB options contract (OB) will trade in the same trading ring as the existing New York Harbor unleaded gasoline options contract, from 10:05 AM until 2:30 PM.

The contract will initially be listed for 12 consecutive monthly contracts, beginning with the January 2006 contract through to the December 2006 contract. The options are “American style” so exercise can occur any business day prior to expiration. The contracts will expire three business days before the expiration of a long underlying New York Harbor RBOB gasoline futures contract.

The narrow interval for strike prices will be listed at $0.0100 intervals and it will be listed 20 above and below the at-the-money option. The wide interval for strike prices will be listed at $0.05 intervals and will be listed five above the highest and lowest $.01 increment. Minimum price fluctuations will be $.0001 per gallon and all clearing and transaction fees are identical to other floor traded options.

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