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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, issued the following statement regarding today's enforcement action by the U.S. Commodity Futures Trading Commission (CFTC):
The CFTC today announced the filing of a civil enforcement action in the United States District Court for the Southern District of New York against Amaranth Advisors, L.L.C., Amaranth Advisors (Calgary) ULC (collectively "Amaranth"), and Brian Hunter, alleging that defendants engaged in a scheme of price manipulation, in particular attempted manipulation by Amaranth of a NYMEX futures settlement price on two trade dates. As also set forth in the complaint, following the initiation of a NYMEX inquiry into Amaranth's trading activity, the CFTC has alleged that Amaranth provided material misrepresentations to the Exchange, thus frustrating NYMEX's ability to obtain all relevant information for its inquiry. NYMEX has a long history of cooperating with its regulator and, in this instance, in the course of fulfilling its self-regulatory responsibilities, NYMEX played a central role in identification of the activity at issue. NYMEX will continue to cooperate with regulatory authorities and will continue to perform its self-regulatory responsibilities diligently to ensure the integrity of its markets.
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.
