NYMEX To Expand Floor Trading Hours For Energy Contracts

The New York Mercantile Exchange, Inc. today announced that it intends to expand the open outcry trading hours for its energy futures and options contracts.

Opening times for the crude oil futures and options, natural gas futures and options, heating oil futures and options, and gasoline futures and options markets would change to 9:00 AM from 10:00 AM, beginning on February 1, 2007. The close of the trading floor will remain 2:30 PM. The crack spread markets and financially settled options markets will also adopt these new trading hours

NYMEX President and Chief Executive Officer James E. Newsome said, "We believe the expansion of open outcry trading hours will benefit market participants as a whole as the bulk of energy trading still occurs during trading floor hours."

Before the proposed change can become effective, it is subject to a consent process that includes a 15-day notice to the owners of Class A memberships.