New York Mercantile Exchange Clears 5 Million Contracts Through NYMEX ClearPort(sm) During First Half

More than 5 million off–Exchange contracts have been cleared through the New York Mercantile Exchange ClearPort^sm system during the first half of 2004.

Cleared volume through June 30 totaled 5,058,586 contracts for crude oil, refined petroleum products, natural gas, electricity, and coal compared with the 2,884,645 contracts cleared through June 30, 2003.

Since the inception of clearing for off–Exchange transactions on May 31, 2002, the equivalent of 275.4 million megawatt hours of electricity, 26.2 quadrillion British thermal units (Btus) of natural gas, 297 million barrels of crude oil and refined products, and 9 million tons of coal have been cleared through the Exchange clearinghouse, with a notional value of approximately $139.4 billion. Nearly 470 companies are registered to clear trades from a product slate of 75 energy contracts.

Open interest as of the close of business last Friday was the equivalent of 26 million megawatt hours of electricity, 3.8 quadrillion Btus of natural gas, 78 million barrels of crude oil and refined products, and 1.2 million tons of coal.

Exchange Chairman Mitchell Steinhause said, "The tremendous growth in activity on the NYMEX ClearPort^sm system indicates that financial security and the mitigation of counterparty credit risk continue to be of high importance to market participants throughout the energy industry. The Exchange's varied slate of contracts available through NYMEX ClearPort^sm are increasingly useful to the industry in meeting those needs."