News Release

Exchange Files Application with Financial Services Authority in London

Thu Apr 07 2005
NEW YORK, N.Y., April 7, 2005 — NYMEX Europe Limited yesterday filed an application with the Financial Services Authority to become a U.K. recognized investment exchange based in London.

NYMEX began open outcry trading of Brent crude oil futures in Europe in November 2004 and hopes to commence open outcry trading in London as soon as regulatory approval is received.

Exchange Chairman Mitchell Steinhause said, "We are very excited about this new chapter in the NYMEX story. Our relationship with the FSA has been very positive and productive, and we look forward to continuing to work with them as NYMEX Europe becomes a player in the London financial arena."

Samuel Gaer, chief executive officer of NYMEX Europe, said, "NYMEX is pleased to provide open outcry trading in Dublin both for the price transparency it offers our customers and for the London-based traders and support staff who will now be able continue their livelihoods on the trading floor."

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