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New York Mercantile Exchange Announces Plans To Offer Abbreviated Electronic Trading Session

Date 13/09/2001

The board of directors of the New York Mercantile Exchange, Inc., last night agreed to make every possible effort to offer trading of its major futures contracts for an abbreviated session today via the internet-based version of NYMEX ACCESS®.

The Exchange is working with its traders, customers, and member firms to target a two-hour session in the afternoon in all contracts currently listed on NYMEX ACCESS®. These include light, sweet crude oil; Brent crude oil; natural gas; heating oil; gasoline; propane; electricity; gold; silver; copper; aluminum; platinum; and palladium futures. Pending a successful session today, the Exchange plans to offer trading for a four-hour session on Friday, times to be determined. Traders are encouraged to check the Hot News section of www.nymex.com or call (212) 301-4871, extension 900, for the latest information on scheduling.

Both Exchange Chairman Vincent Viola and Exchange President J. Robert Collins, Jr., reaffirmed their commitment to reinstating open outcry trading as soon as is safely possible. "We are, however, equally determined to offer this temporary solution, given the critical importance to the global economy of the strategic instruments we offer," they said in a statement.