News Release

NYMEX Statement

Wed Feb 06 2008

NEW YORK, Feb. 6 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE: NMX), believes that a market-driven regulatory structure can most efficiently and safely meet the needs of a broad array of derivatives market users, particularly during dynamic periods of growth and volatility. The vertically integrated clearing model has stood the test of time for more than a century, including more than 80 years of federal regulation and Congressional oversight.

In passing into law the landmark Commodity Futures Modernization Act of 2000, Congress once again rejected an approach under which market structure would be dictated by government fiat. By avoiding a "one-size-fits-all" model, Congress has instead provided for substantial flexibility in how companies may organize their businesses and still comply with regulatory requirements. We continue to believe that Congress made the appropriate choice by focusing upon a free market solution that also involves both self-regulation as well as direct oversight by the Commodity Futures Trading Commission.

Our experienced staff has ensured that NYMEX continued to serve its market users without incident through periods of major market volatility. Any mandate or fiat that clearing of a given product must occur on numerous clearing organizations would actually increase systemic risk and default risk and also would seriously undermine the ability of a pro-active clearing organization such as NYMEX to manage market risk.

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: NYMEX Holdings, Inc.

CONTACT: Keil Decker, +1-212-299-2209, or Anu Ahluwalia,
+1-212-299-2439, both of NYMEX Holdings, Inc.

Web site:

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