News Release

Exchange Announces Margins, Position Accountability Levels, and Reporting Requirements for Freight Swap Futures Contracts

Fri May 13 2005
New York, N.Y., May 13, 2005 — The New York Mercantile Exchange, Inc., today announced the margins, position accountability levels, and reporting requirements for its three new freight swap futures contracts which begin trading on May 15.

Margins on all months of the Freight Route TC1 swap futures contract will be $1,500 for clearing members, $1,650 for members, and $2,025 for customers. Margins on all months of the Freight Route TC4 swap futures contract will be $1,000 for clearing members, $1,100 for members, and $1,350 for customers. Margins on Freight Route TC5 swap futures contract will be $1,750 for clearing members, $1,925 for members, and $2,363 for customers.

Margins on the inter-month spreads for all months of the Freight Route TC1 swap futures contract will be $200 for clearing members, $220 for members, and $270 for customers. Margins on the inter-month spreads for all months of the Freight Route TC4 swap futures contract will be $150 clearing members, $165 for members, and $203 for customers. Margins on the inter-month spreads for all months of the Freight Route TC5 swap futures contract will be $200 clearing members, $220 for members, and $270 for customers.

The position accountability levels for the Freight Route TC4 swap futures contract will be 5,000 contracts for any single month or all months, with the exception of a 500-contract level for the last three days of the expiring contract. The position accountability levels for the Freight Route TC1 and TC5 swap futures contracts will be 10,000 contracts for any single month or all months, with the exception of a 1,000-contract level for the last three days of the expiring contract.

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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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