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 average daily volume in October 2007 was 1.584 million contracts, a 30% increase from 1.221 million contracts per day in October 2006.
NYMEX electronic volume on the CME Globex® electronic trading platform was 747,596 contracts per day and represented a 122% increase over 336,370 contracts per day in October 2006 electronic volume on CME Globex. NYMEX floor-traded energy futures and options averaged 254,358 contracts per day for October 2007.
COMEX electronic volume on CME Globex averaged 130,353 contracts per day and represented a 2,014% increase over 6,165 contracts per day in October 2006 NYMEX ACCESS® electronic volume. COMEX floor-traded average daily volume was 39,439 contracts for October 2007.
Average daily volume on NYMEX ClearPort® was 317,917 contracts for October 2007, compared to 325,861 for October 2006. The remaining volume of 94,102 trades per day consisted of other transactions which includes position transfers and exchanges.
Rolling Average Rate Per Contract -- The three month rolling gross average rate per contract for the period August through October 2007, was $1.54, while the net average rolling rate per contract, including direct transaction costs, for the same period was $1.28. October rates per contract and direct transaction costs are estimated (see Note below).
Final September Rate Per Contract -- The following represents the final September rates per contract after adjustments to the estimated rate per contract we provided last month. Gross average rate per contract across all venues in September 2007 was $1.58, while the net average rate per contract, including direct transaction costs, was $1.31. This is compared to gross average rate per contract of $1.36, and a net average rate per contract of $1.14 for September 2006. Direct transaction costs were $8.314 million for September 2007 versus $6.226 million for September 2006.
Estimated October Rate Per Contract -- The following October average rate per contract is estimated (see Note below). Gross average rate per contract across all venues in October 2007 was $1.50, while the net average rate per contract, including direct transaction costs, was $1.24. This is compared to gross average rate per contract of $1.40, and a net average rate per contract of $1.17 for October 2006. Direct transaction costs were an estimated $9.315 million for October 2007 versus $5.989 million for October 2006.
Note: Because we are providing an additional level of up-to-date information regarding our recent monthly rates per contract, our volumes and rates press releases will be issued within approximately seven to eight business days after the end of the month. Also, the estimated figures are preliminary and may change due to the fact that the last days of the month have not been finalized and are thus subject to adjustments and corrections. Average daily volume is based on 23 trading days for October 2007 and 22 days for October 2006.
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/.
Forward Looking and Cautionary Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward-looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward-looking statements. In particular, the forward-looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward-looking statements.
OCTOBER AVERAGE DAILY VOLUMES Venue 2007 2006 NYMEX floor 254,358 421,705 NYMEX electronic 747,601 336,370 COMEX floor 39,439 71,092 COMEX electronic 130,353 6,165 NYMEX ClearPort® 317,917 325,861 Other 94,093 60,073 Total 1,583,760 1,221,266 THREE MONTH ROLLING AVERAGE DAILY VOLUME (For the period August through October) Venue 2007 2006 NYMEX floor 238,036 490,319 NYMEX electronic 724,586 257,882 COMEX floor 36,729 76,502 COMEX electronic 119,970 7,062 NYMEX ClearPort® 335,817 417,119 Other 83,867 63,120 Total 1,539,004 1,312,004 SEPTEMBER 2007 AVERAGE RATES PER CONTRACT Venue Net RPC NYMEX floor $1.55 NYMEX electronic $1.02 COMEX floor $1.44 COMEX electronic $1.25 NYMEX ClearPort® $1.57 Other $2.09 Total Average Net Rate $1.31 Direct Transaction Cost $0.27 Total Average Gross Rate $1.58 OCTOBER 2007 ESTIMATED AVERAGE RATES PER CONTRACT Venue Net RPC NYMEX floor $1.48 NYMEX electronic $0.97 COMEX floor $1.49 COMEX electronic $1.24 NYMEX ClearPort® $1.50 Other $1.81 Total Average Net Rate $1.24 Direct Transaction Cost $0.26 Total Average Gross Rate $1.50 THREE MONTH ROLLING AVERAGE RATES PER CONTRACT (For the period August through October 2007) Venue Net RPC NYMEX floor $1.50 NYMEX electronic $0.98 COMEX floor $1.43 COMEX electronic $1.24 NYMEX ClearPort® $1.58 Other $1.97 Total Average Net Rate $1.28 Direct Transaction Cost $0.26 Total Average Gross Rate $1.54
