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FTSE Mondo Visione Exchanges Index:

New York Mercantile Exchange Names New Senior Vice President

Date 17/05/2004

The New York Mercantile Exchange, Inc., has retained Sean Keating as its senior vice president of clearing services.

Mr. Keating joined the Exchange from Pioneer Futures, Inc., where he was president. He originally worked for the Exchange in the compliance department in 1987 as a trade practice analyst, responsible for investigating violations of trade practices.

In 1988, Mr. Keating went to work for Pioneer Futures, an Exchange member firm, as a clerk and assistant operations manager. The position introduced him to back office operations, including margin calculations and general business operations. In 1990, he left Pioneer for one year to work as an underwriter for American International Group, Inc.

Mr. Keating returned to Pioneer as a vice president and was responsible for all of the risk management/capital allocation operations of the company, including trade settlement, data processing, maintaining relationships with banks, and preparing the firm's balance sheet and income statement. In 1998, Mr. Keating was promoted to president.

In 1999, he was also named president of Pioneer Capital Corp., a New York Stock Exchange member organization. Mr. Keating also served as chairman of the company's risk management committee, which assesses all aspects of risk, including financial, trade methodology, operations management, and technology.

Mr. Keating holds a bachelors of science degree in business administration/marketing from Marist College.

He lives in Basking Ridge, New Jersey, with his wife and two children.