News Release

Exchange Announces Margins, Position Accountability Levels, and Reporting Requirements for New Emissions Contracts

Fri Jun 17 2005
New York, N.Y., June 17, 2005 — The New York Mercantile Exchange, Inc., announced margins, position accountability levels, and reporting requirements for its new emissions futures contracts, which will begin trading on June 19.

Margins for all months of the sulfur dioxide futures contract will be $2,500 for clearing members, $2,750 for members, and $3,375 for customers. Margins for all months of the nitrogen oxide futures contract will be $1,000 for clearing members, $1,100 for members, and $1,350 for customers.

Intra-commodity spread margin rates for the sulfur dioxide futures contract will be $500 for clearing members, $550 for members, and $675 for customers. Intra-commodity spread margin rates for the nitrogen oxide futures contract will be $300 for clearing members, $330 for members, and $405 for customers.

The position accountability levels for the sulfur dioxide and nitrogen oxide futures contracts will be 2,500 contracts for any single month or all months, with the exception of a 200-contract level for the last three days of the expiring contract. Clearing members must identify customers with a position of 25 contracts or more to the Exchange.
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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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