Nymex Achieves 5th Consecutive Annual Record In Nymex Division Options Trading

Options trading volume in 2001 set an annual volume record for the fifth consecutive year on the NYMEX Division of the New York Mercantile Exchange, Inc., in addition to annual volume records which were set in natural gas options, unleaded gasoline futures and options, COMEX Division copper futures, and trading on NYMEX ACCESS7, the Exchange's internet-based electronic trading system.

Exchange-wide volume for the year was 103,025,093 contracts, the third time in three years that Exchange volume topped the 100 million mark. In 2001, the Exchange also set a record for seat value when a NYMEX Division seat was sold for $825,000 on December 14.

NYMEX Division options volume totaled 15,475,878 contracts, surpassing the previous record of 15,260,056 contracts traded in 2000.

Individual contract records included:

• Natural gas options trading set a record for the 10th consecutive year since the contract was launched in 1992 with 5,974,240 contracts, surpassing the 5,335,800 contracts traded in 2000.
• Unleaded gasoline futures volume totaled 9,223,510 contracts in 2001, breaking the record of 8,701,216 contracts set in 1999.
• Unleaded gasoline options set a record of 1,040,030 contracts, compared with the previous record of 1,033,778 established in 1997.
• COMEX Division copper futures traded a record 2,856,641 contracts, breaking the previous record of 2,852,962 contracts set in 1999.
• The new Brent crude oil futures contract, launched on September 5, traded 49,565 contracts through the end of the year.
• The central Appalachian coal futures contract, launched on July 12, traded 2,209 contracts through year-end.

Trading on NYMEX ACCESS7 set an Exchange-wide record of 2,612,527 futures and options contracts, breaking the previous consolidated trading record of 2,444,935 NYMEX and COMEX Division contracts in 1999.

NYMEX Division volumes on NYMEX ACCESS7 set a record with 2,435,559 futures and options contracts, as compared to the previous mark of 2,127,360 contracts traded in 1999.

Energy trading on NYMEX ACCESS7 also set a record with 2,429,897 contracts compared with the previous record of 2,112,874 contracts in 1999.

Individual contracts also set electronic trading records in 2001. These include:

• Light, sweet crude oil futures with 1,572,477 contracts, compared with the record 1,160,275 futures contracts traded in 2000.
• Heating oil futures traded a record 151,150 contracts, breaking the prior record of 132,658 contracts in 1996.
• Unleaded gasoline futures traded a record 99,321, shattering the old record of 84,499 contracts set in 1995.

Exchange President J. Robert Collins, Jr., said, "The annual trading records illustrate the increasing value and relevance of the Exchange's risk management products to the marketplace. In particular, the consistent growth in energy options trading is indicative of the growing sophistication of market users and our need to continue to develop tools to meet their requirements. Since shifting to an internet platform on September 14, NYMEX ACCESS7 volume is up 23%, reflecting the industry's satisfaction with the versatility of the new system and its desire for continuous access to the Exchange's products. Our goal in 2002 is to widely expand that product base, offering a full slate of risk management and clearing services to the OTC segment of the market."