NYMEX to Launch Nine New Natural Gas Delivery Point Pipe Options Contracts

    NEW YORK, Dec. 3 /PRNewswire-FirstCall/ -- The New York Mercantile
 Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE:   NMX), today
 announced that it will introduce nine new natural gas delivery point pipe
 options contacts on NYMEX ClearPort(R) and the NYMEX trading floor,
 beginning on December 16 for trade date December 17.
 
     The new pipe options contracts will be European style, financially
 settled options. Upon expiration, a long call option will be settled by
 adding the settlement price for the same delivery month of the Henry Hub
 natural gas swap futures contract to the underlying NYMEX natural gas basis
 swap futures contract less the strike price multiplied by 2,500 MMBtu, or
 zero, whichever is greater. Upon expiration, the long put will be settled
 by subtracting from the strike price the settlement price for the same
 delivery month of the Henry Hub natural gas swap futures added to the
 underlying NYMEX natural gas basis swap futures contract multiplied by
 2,500 MMBtu, or zero, whichever is greater.
 
     The new pipe options contracts and their commodity codes are: PGE
 Citygate (CW); Alberta (PI); Northern Rockies (ZR); Transco Zone 6 (TZ);
 Chicago Citygate (PY); Houston Ship Channel (PK); San Juan (PJ); SoCal
 (ZN); and Panhandle (PU).
 
     The contracts will be 2,500 MMBtu in size, with a minimum price
 fluctuation of $0.001 per MMBtu. The contracts will be listed for 72
 consecutive monthly expirations, with the first listed expiration month of
 January 2008. The contracts expire on the termination day of the underlying
 basis swap futures contracts.
 
     There will be five strike prices in intervals of $0.01 per MMBtu above
 and below the at-the-money strike price and will be adjusted according to
 the futures price movements.
 
     Information about fees 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.
 
 
 

SOURCE The New York Mercantile Exchange, Inc.

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