News Release

NYMEX and CME to Add Implied Pricing Functionality for Electronic Energy Trading on CME Globex®

Tue Jul 11 2006

NEW YORK, July 11 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc. announced today that it will offer implied pricing functionality for energy futures contracts traded on the CME Globex electronic trading platform beginning on July 16 for trade date July 17.

Implied pricing on the CME Globex platform integrates bids and offers, in spreads and their underlying contracts, to generate additional liquidity and provide the best possible prices.

NYMEX Chairman Richard Schaeffer said, "We are pleased to offer our customers this enhanced functionality. NYMEX and CME have combined their strengths to provide innovative trading solutions to the energy industry."

James E. Newsome, NYMEX President and Chief Executive Officer, said, "NYMEX strives to give the customers the broadest array of options for mitigating credit risk, using their preferred method of trading, whether open outcry or electronic, virtually 24 hours a day."

"The implied spread trading functionality on CME Globex will further augment the electronic trading environment of NYMEX's benchmark energy futures, ultimately adding to the liquidity of these electronic markets," said CME Chairman Terry Duffy.

"Since the launch of NYMEX products on the CME Globex platform on June 12 average daily volume has been 78,000 contracts, reaching a daily high of 108,000 on June 21," said CME Chief Executive Officer Craig Donohue. "We believe this new spread trading functionality will help to expand the growth of energy trading electronically."

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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.


SOURCE: Chicago Mercantile Exchange Inc.

CONTACT: Anu Ahluwalia of NYMEX, +1-212-299-2439, or Allan Schoenberg of
CME, +1-312-930-8189

Web site:

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