News Release

NYMEX Supports CFTC Decision To Review ICE Status

Wed Feb 01 2006

New York, N.Y., February 1, 2006 -- The New York Mercantile Exchange, Inc. (NYMEX), is pleased that the Commodity Futures Trading Commission (CFTC) has determined to evaluate the use of the no-action process in light of the significant issues raised by the Intercontinental Exchange, Inc. (ICE) proposal.

NYMEX recently expressed to the CFTC its concerns about the plans of ICE to list the domestic West Texas Intermediate (WTI) crude oil futures contract on its wholly-owned, foreign futures exchange, pursuant to a CFTC staff no-action letter permitting the trading of foreign futures on foreign terminals placed in the United States. NYMEX raised significant regulatory and policy issues, including the use of the foreign terminals no-action relief to list a contract with substantial U.S. participation for trading electronically in the U.S. without CFTC designation as a contract market, and requested that the CFTC carefully consider the implications of the ICE proposal.

NYMEX President James E. Newsome said, "CFTC oversight of U.S. futures markets must not be circumvented through a no-action process that was intended to, and has effectively to date provided access for U.S. customers to foreign futures products. We are gratified with the CFTC's decision to further investigate the situation."



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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Corporate Communications

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