News Release

NYMEX Europe Appoints Public Director

Wed Jun 22 2005
NEW YORK, N.Y., June 22, 2005 — NYMEX Europe Limited announced today that it has appointed Alan Whiting as an independent non–executive director of the board.

Mr. Whiting is chairman and managing director of Merlan Financial, a company he founded in 2004 that provides financial regulatory advisory services. He also has a number of non–executive directorships, including The Mortgage Code Compliance Board, The Banking Code Standards Board, and The Gibraltar Financial Services Commission.

From 1997 to 2004, Mr. Whiting served as executive director of regulation and compliance at the London Metal Exchange (LME), where he established a well–respected regulatory department. In addition, he played an active role in the international regulation of commodity markets and commodity derivatives business, particularly the European Union's Investment Services, Markets in Financial Instruments, and Market Abuse Directives.

Prior to the LME, Mr. Whiting served as under secretary and director of financial regulation at HM Treasury and held a number of under secretary posts at the UK Department of Trade and Industry, including chief economic advisor. At HM Treasury, he was responsible for the structure, legislation, and oversight of banking, mutuals, and financial services regulation, including the formation of the Financial Services Authority.

On the international regulatory front, Mr. Whiting played an active role in developing international standards and cooperation. He was a member of the International Organisation of Securities Commissions (IOSCO) Technical Committee, the UK's representative for the G7 work on financial regulation, and a member of the European Union's Banking Advisory and the High Level Securities Regulators Committees.

Samuel Gaer, chief executive officer of NYMEX Europe, said, "We are pleased to have Alan on board as our first independent non-executive director. His knowledge of the financial markets and regulatory processes will be a tremendous benefit to the Exchange as it grows in Europe."
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