NYMEX Open Interest Reaches 2.5 Million
Date 13/05/1999
Open interest on the New York Mercantile Exchange NYMEX Division passed the 2.5 million mark yesterday for the first time in Exchange history with open interest reaching 2,509,417 lots, surpassing the previous open interest record of 2,481,336 lots set on May 7, 1999. In addition, Exchange-wide open interest reached a record 3,493,654 lots.
In recent weeks, the Exchange has set several open interest records. These include: 638,387 crude oil futures contracts on April 15, 1999; 347,561 natural gas futures contracts on April 26, 1999; 689 Pennsylvania/New Jersey/Maryland electricity contracts on May 6, 1999
Open interest is commonly regarded as a measure of long-term industry participation in the market.
Exchange President R. Patrick Thompson said, 'The Exchange is very pleased to reach this milestone which is evidence of the industry's growing reliance on our markets for liquidity and price transparency.'
