Mr Viola and Mr Collins will be available to answer questions at the rear of 216 Hart U.S. Senate Washington, D.C.
The York Mercantile Exchange is the world's largest energy market, offering futures and options trading in natural gas, crude oil, gasoline, and heating oil, as well as propane and electricity futures. The notional value of all transactions in 2001 was $2.875 trillion.
Mr. Viola will testify about the importance of a centralized, regulated market as it relates to unregulated markets, as well as the objections raised by the Exchange as part of the debate on the Commodity Futures Modernization Act, to the exemptions from regulatory oversight granted to electronic exchanges offering energy and metals futures trading.
Mr. Viola has been chairman of the Exchange since March 2001 and is a previous vice chairman as well as the current president of Pioneer Futures, Inc.
Mr. Collins has been president of the Exchange since July 2001. Immediately prior to assuming that role, he was senior vice president of natural gas trading at El Paso Merchant Energy. He also has experience as an options trader on the floor of the Exchange.
If you are unable to attend the hearing, a full copy of Mr. Viola's testimony will be available at (http://www.nymex.com/news/hearing129.htm) or by calling the Exchange press office at (212) 299-2430. The hearing will also be webcast at: http://energy.senate.gov/hearings/hearing_avs1.ram
