News Release

NYMEX Holdings Reports Earnings for 2005

Fri Mar 10 2006

NEW YORK, N.Y., March 10, 2006 — NYMEX Holdings, Inc., the holding company of the New York Mercantile Exchange, Inc., filed its Annual Report on Form 10–K this week, reporting net income of $71.1 million for 2005.

Earnings per share in 2005 were $87,167. Total revenue increased to $346.6 million in 2005 from $241.3 million during the prior year.

Clearing and transaction fees increased 44% to $277.6 million in 2005 due primarily to increased trading and clearing volume.

Net income in 2004 was $27.4 million and earnings per share were $33,538.

Operating expenses totaled $215.6 million in 2005 compared with $193.7 million in 2004, primarily due to higher general and administrative expenses driven in large part by the Exchange's international initiatives.

Other developments during the year included:

 

  • NYMEX Holdings paid total dividends of $108,701 per share during 2005.
  • The NYMEX Division seats sold for a record $3,775,000 in November and December 2005.
  • In June 2005, NYMEX entered into a joint venture to launch the Dubai Mercantile Exchange, which is slated to open during the fourth quarter of this year.
  • The Exchange opened NYMEX Europe Limited in London in September 2005, the foundation of its European expansion efforts.
  • During 2005, total futures and options trading and clearing volume on the Exchange was a record 215.2 million contracts, a 27% increase over the 169.5 million contracts traded and cleared in 2004. Included in this total was volume submitted for clearing through NYMEX ClearPort® of 39.3 million contracts, a 175% increase from the 14.3 million in 2004.
  • Total energy futures traded reached 112.3 million contracts, topping the 2004 record of 96.9 million contracts.
  • Crude oil futures reached 59.7 million contracts in 2005, surpassing the record 52.9 million contracts traded in 2004. Crude oil options set a record with 14.7 million contracts, surpassing the record 11.5 million contracts traded in 2004.
  • NYMEX miNYTM futures volume grew by 624% with 6.2 million contracts traded in 2005, compared to the 856,544 contracts traded in 2004. This total includes a record 5.7 million NYMEX miNYTM crude oil futures contracts, which shattered the 2004 record of 720,421 contracts, and a record 522,439 NYMEX miNYTM natural gas futures contracts, which surpassed the 2004 record of 136,123 contracts.
  • In 2005, 95 new products were launched on the NYMEX ClearPort® clearing and trading platform. Exchange President James E. Newsome said, "In 2005, NYMEX experienced its fourth consecutive year of record volumes while continuing its international expansion efforts. We are very pleased with the growth in both the energy and metals complexes and the continued confidence futures industry participants place in our markets."
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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.
  • Contact: Anu Ahluwalia, 212-299-2439
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