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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, today announced average daily volume for December 2007 of 1.335 million contracts, a 16% increase from 1.149 million contracts per day in December 2006.
NYMEX electronic volume on the CME Globex® electronic trading platform was 618,912 contracts per day and represented a 65% increase over 376,094 contracts per day in December 2006 electronic volume on CME Globex. NYMEX floor-traded energy futures and options averaged 190,505 contracts per day for December 2007.
COMEX electronic volume on CME Globex averaged 99,097 contracts per day and represented a 195% increase over the 33,602 contracts per day in December 2006 electronic volume on CME Globex. NYMEX launched side by side trading of physically delivered energy futures for its COMEX division metals on CME Globex during open outcry hours on December 3, 2006. COMEX floor-traded average daily volume was 24,886 contracts for December 2007.
Average daily volume on NYMEX ClearPort® was 295,048 contracts for December 2007, compared to 306,901 for December 2006. The remaining volume of 106,267 trades per day consisted of other transactions which include position transfers and exchanges.
Rolling Average Rate Per Contract -- The three month rolling average gross rate per contract for the period October through December 2007 was $1.47, while the average net rolling rate per contract, including direct transaction costs, for the same period was $1.23. December rates per contract and direct transaction costs are estimated (see Note below).
Final November Rate Per Contract -- The following represents the final November 2007 rates per contract after adjustments to the estimated rate per contract we provided last month. Gross average rate per contract across all venues in November 2007 was $1.47, 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 $1.16 for November 2006. Direct transaction costs were $8.035 million for November 2007 versus $5.801 million for November 2006.
Estimated December Rate Per Contract -- The following December average rates per contract are estimated (see Note below). Gross average rate per contract across all venues in December 2007 was $1.44, while the net average rate per contract, including direct transaction costs, was $1.19. This is compared to gross average rate per contract of $1.44, and a net average rate per contract of $1.16 for December 2006. Direct transaction costs were an estimated $6.670 million for December 2007 versus $6.370 million for December 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 20 trading days for December 2007; 20 days for December 2006; 64 days for fourth quarter 2007; and 62 days for fourth quarter 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 exchange, offering futures and options trading in energy and metals contracts and clearing services for more than 350 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.
DECEMBER AVERAGE DAILY VOLUME Venue 2007 2006 NYMEX floor 190,505 301,625 NYMEX electronic 618,912 376,094 COMEX floor 24,886 44,042 COMEX electronic 99,097 33,602 NYMEX ClearPort® 295,048 306,901 Other 106,267 86,761 Total 1,334,715 1,149,026 THREE MONTH ROLLING AVERAGE DAILY VOLUME (For the period October through December) Venue 2007 2006 NYMEX floor 228,678 362,259 NYMEX electronic 703,670 367,874 COMEX floor 42,095 75,790 COMEX electronic 147,017 16,197 NYMEX ClearPort® 310,175 301,994 Other 107,403 74,781 Total 1,539,038 1,198,895 NOVEMBER 2007 AVERAGE RATES PER CONTRACT Venue Net RPC NYMEX floor $1.46 NYMEX electronic $0.87 COMEX floor $1.47 COMEX electronic $1.37 NYMEX ClearPort® $1.56 Other $1.85 Total Average Net Rate $1.24 Direct Transaction Cost $0.23 Total Average Gross Rate $1.47 THREE MONTH ROLLING AVERAGE RATES PER CONTRACT (For the period September through November 2007) Venue Net RPC NYMEX floor $1.50 NYMEX electronic $0.96 COMEX floor $1.47 COMEX electronic $1.30 NYMEX ClearPort® $1.55 Other $1.90 Total Average Net Rate $1.27 Direct Transaction Cost $0.24 Total Average Gross Rate $1.51 DECEMBER 2007 ESTIMATED AVERAGE RATES PER CONTRACT Venue Net RPC NYMEX floor $1.46 NYMEX electronic $0.90 COMEX floor $1.38 COMEX electronic $1.06 NYMEX ClearPort® $1.44 Other $1.75 Total Average Net Rate $1.19 Direct Transaction Cost $0.25 Total Average Gross Rate $1.44 THREE MONTH ROLLING ESTIMATED AVERAGE RATES PER CONTRACT (For the period October through December 2007) Venue Net RPC NYMEX floor $1.47 NYMEX electronic $0.92 COMEX floor $1.46 COMEX electronic $1.26 NYMEX ClearPort® $1.51 Other $1.81 Total Average Net Rate $1.23 Direct Transaction Cost $0.24 Total Average Gross Rate $1.47
SOURCE: NYMEX Holdings, Inc.
