The Exchange was noted for its technological successes, including launching its open outcry trading floor in Dublin in three weeks; building its London trading floor and information infrastructure in six weeks; completion of its Ecosystem, a combination of its trade management and price management systems; and launching NYMEX Neon, an electronic order network for its open outcry markets.
Mr. Gaer, who was recently named chief executive officer of NYMEX Europe Limited, began his career as an open outcry trader, giving him the unique perspective of working on the trading floor. He joined the Exchange in March 2003 as chief information officer after the Exchange purchased the assets of TradinGear.com, the trading systems developer that he founded in 1999. Mr. Gaer also serves as co–chairman of the global derivatives committee of FIX Protocol Ltd.
Exchange President James E. Newsome said, "In a year of global expansion, record volumes, and record seat sales, it is gratifying for the Exchange to be recognized as a leader in technology, both for its personnel and as a company."