New York, N.Y., February 9, 2007 — New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), today announced that it will list three new financially settled catastrophe risk (CAT risk) index futures contracts for trading on the CME Globex® electronic trading platform and for clearing on NYMEX ClearPort®, beginning on March 4 for trade date March 5. On March 6, NYMEX will also launch CAT risk options contracts for trading on the NYMEX trading floor and for clearing on NYMEX ClearPort.
The new index futures contracts and their commodity codes are: nationwide (WU), Texas to Maine (WY), and Florida (WF). The commodity codes for the index options contracts are: national index (XW), Texas to Maine (XY), and Florida (XF).
The contracts are annual and will be listed for loss-years 2007, 2008 and 2009. Each will be listed as a December contract for those loss years. The futures and options contracts will expire on the last business day in March following the calendar loss year. The options contracts are European style options, settling only on expiration day.
Fees for CME Globex, NYMEX ClearPort, and the NYMEX trading floor will be $8.00 for members and $10.00 for non-members. NYMEX ClearPort fees for COMEX members will be $10.00.
The final settlement will be based on the index compiled from Property Claim Services® (PCS®) data for the appropriate regions, dates and perils covered. The index is valued as insured losses divided by $10 million. The contract value will be 10 times the index with a minimum tick of 1.00 index point or $10 contract value.
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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