01/26/2005
The MOU between the exchanges aims to generate favorable results in both exchanges' markets within the increasingly global commodity futures industry.
The areas of cooperation include:
- Exploring the feasibility to allow each exchange to electronically trade the other's products
- Communicating and sharing information regarding market management and reinforcing the ability of both exchanges to operate in a fair and orderly manner
- Securing the appropriate regulatory approvals in the United States and Japan
The New York Mercantile Exchange is the largest physical commodity exchange in the world, offering futures and options trading in energy and metals contracts and clearing services for off-exchange energy transactions. Through a combination of open outcry floor trading and NYMEX ACCESS® and NYMEX ClearPortsm electronic trading platforms, a wide range of crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, and platinum group metals markets are available virtually 24 hours each day.
About the Central Japan Commodity Exchange
The Central Japan Commodity Exchange, ranked second and seventh largest exchange in the Japanese and global marketplaces respectively, provides gasoline, kerosene, and gasoil contracts on its oil market and the world's only shell egg futures contract on the livestock market. C-COM is currently working to list up a number of new commodity contracts such as U.S.-dollar denominated gold and ferrous scrap metals to meet the needs of the market.
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.