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NYMEX Holdings, Inc. (NYSE: NMX), the parent company of the New York Mercantile Exchange, Inc., the world's largest physical commodities futures and options exchange, announced today that NYMEX Chairman Richard Schaeffer has been elected as a director on the Board of Directors of leading Norwegian financial derivatives exchange IMAREX ASA (Oslo: IMAREX).
NYMEX acquired 15.1% of IMAREX ASA from Frontline Ltd., on November 14, for approximately $52 million. IMAREX, headquartered in Oslo, operates a hybrid model of electronic trading and voice brokerage and offers research, transaction and settlement services for financial derivatives based on oceangoing freight, airborne emissions, farmed salmon, electric power and heavy fuel oil.
About NYMEX Holdings, Inc.
NYMEX Holdings, Inc. (NYSE: NMX) is the parent company of the New York Mercantile Exchange, Inc., the world's largest physical commodities futures and options exchange, offering futures and options trading in energy and metals contracts and clearing services for more than 320 off-exchange energy contracts. Through a hybrid model of open outcry floor trading and electronic trading on CME Globex® and NYMEX ClearPort®, NYMEX offers crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, platinum group metals, emissions, and soft commodities contracts for trading and clearing virtually 24 hours each day. Further information about NYMEX Holdings, Inc. and the New York Mercantile Exchange, Inc. is available on the NYMEX website at http://www.nymex.com/.
About IMAREX ASA
IMAREX operates a hybrid model of electronic trading and voice brokerage and offers research, transaction and settlement services for financial derivatives based on ocean going freight, heavy fuel oil, electric power, airborne emissions and farmed salmon. It is the world's only regulated market for trading of freight derivatives. The Group's exchange and clearinghouse are licensed by the Norwegian Ministry of Finance and regulated by the Financial Supervisory Authority of Norway. Across the group, customers include the world's leading banks, oil majors, power generators, ship owners, charterers, commodity trading houses and hedge funds. IMAREX is headquartered in Oslo, and has subsidiaries in Singapore, Houston, Stavanger, Norway, Bergen, Norway, Zurich and London. The company's shares are listed on Oslo Bors under the ticker IMAREX. Further information about IMAREX is available on the group's website at http://www.imarex.com/.
