Notice to Members
Notice No. 116
02/22/2007
Proposed Reduction in Financial Requirements for NYMEX Member Firms (Both Clearing and Non-Clearing NYMEX Member Firms)
This notice contains a proposed amendment to NYMEX Rule 2.10 (Member Firm Privileges) that would reduce from 180,000 to 150,000 the amount of NYMEX Holdings, Inc. Common Stock required to become and/or maintain Member Firm privileges in the NYMEX Division of the Exchange. This proposed amendment is only applicable to NYMEX Division Member Firms since there is no share holding requirement applicable to COMEX-only Division Member Firms. It should be noted that this is the first in a series of reductions in NYMEX Division Member Firm share requirements the Board plans to implement over an, as yet, unspecified schedule. The proposed amendment below is scheduled to become effective Friday March 9, 2007. Simultaneous therewith, all "NYMEX Bundles" will be composed of one trading right and 75,000 shares of NYMEX Holdings, Inc. Common Stock.

Rule 2.10. MEMBER FIRM PRIVILEGES

(A) Each firm, as a condition of obtaining and maintaining Member Firm privileges, shall be required to own and or have conferred upon it two (2) Exchange memberships in each Division in which it desires Member Firm privileges. The firm shall also be required to designate one or two individuals as its "conferring Members". Conferring Members may individually own the membership(s) and or hold such memberships via ABC Agreement. In addition, until further notice from the Exchange, each NYMEX Division Member Firm shall at all times own or have pledged/conferred upon it at least 150,000 shares in NYMEX Holdings, Inc. common stock.

The remainder of Rule 2.10 is unchanged.

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NOTE: This change in membership requirements triggers the "Special Matters" provisions of the New York Mercantile Exchange, Inc. (the "Exchange") Bylaws. More specifically, this proposed membership rule change therefore constitutes a Special Matter. Accordingly, owners of Class A Memberships have fifteen (15) days from the date of this Notice to submit a petition by the owners of 82 Class A Memberships (representing at least 10% of the 816 outstanding Class A Memberships) requesting a Special Meeting of the owners of Class A Memberships to vote on the membership rule change. If such petition is not received within this time period, or if the membership rule change is approved at such a Special Meeting, the membership rule change will be deemed approved and will subsequently be submitted to the Commodity Futures Trading Commission (CFTC). A special meeting request form is attached to the end of this Notice in satisfaction of Exchange Bylaw Section 202 (B).

Inquiries regarding the aforementioned may be directed to Donna Talamo, Vice President – Office of the Corporate Secretary, at dtalamo@nymex.com or by fax to 212-301-4645.

RESPONSE FORM - REQUEST FOR SPECIAL MEETING

My name is _____________________ and I am the owner, either directly or by ABC, of __________ Class A Membership(s) in the New York Mercantile Exchange, Inc., and I hereby request a special meeting in response to the membership rule change contained in this Noticee.

Signed By:

_____________________

Print Name:
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com