Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Nymex Seat Reaches Million-Dollar Mark

Date 17/05/2002

A seat on the NYMEX Division of the New York Mercantile Exchange, Inc., set a record for the third time this week when one was sold for $1 million exceeding the record of $960,000, set by a seat sale on Tuesday.

The Tuesday sale topped the $950,000 record set on Monday, which surpassed the $925,000 record set on April 1, 2002.

Exchange President J. Robert Collins, Jr., said, "As sensitivity to counterparty credit exposure heightens in the energy industry, more and more people are turning to the New York Mercantile Exchange as the marketplace of choice, as evidenced by our rapidly rising volume and open interest. The multiple seat sale records in this week are a tangible demonstration of the confidence of the marketplace in our continued growth and expansion, particularly with the new initiatives we have recently announced."

Ownership of a seat on the NYMEX Division represents a share of common stock in NYMEX Holdings, Inc.