News Release

Exchange Trades Millionth Brent Contract

Fri Sep 09 2005

NEW YORK, NY, September 9, 2005 — The New York Mercantile Exchange, Inc. announced today that the one millionth Brent crude oil futures contract traded on September 8.

The Brent crude oil futures contract was launched on November 1, 2004, on the Exchange's satellite trading floor in Dublin, Ireland. On September 12, open outcry trading will move to the trading floor of the Exchange's affiliate in London, NYMEX Europe Limited. Brent trading in Dublin will cease as of the close of business today.

Exchange President James E. Newsome said, "We launched the open outcry Brent contract in response to our customers who expressed a desire to continue trading this contract face–to–face on the floor. We deeply appreciate the cooperation and support we received from the Irish Financial Services Regulatory Authority, the New York Board of Trade from whom we leased the Dublin facilities, and the Dublin trading community. The Brent market, however, resides in London and we have to be responsive to the needs of the wider marketplace. We are gratified by the cooperation we have received from the UK Financial Services Authority during the regulatory review of NYMEX Europe Limited and the effort to open the London trading floor."

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