NYMEX Announces Stake in ConfirmHub LLC
June 24 2008 - 8:00AM
PR Newswire (US)
NEW YORK, June 24 /PRNewswire-FirstCall/ -- NYMEX Holdings, Inc.
(NYSE:NMX), the parent company of the New York Mercantile Exchange,
Inc., announced today that it has joined interdealer brokers GFI,
ICAP, and Tullet Prebon as a 25% stakeholder in ConfirmHub LLC, the
energy and environmental industry initiative to provide a central,
standardized platform for transaction confirmation delivery. This
collaboration among the members in a technology initiative is an
industry first and represents a significant commitment to market
transparency and efficiency. NYMEX Chairman Richard Schaeffer said,
"NYMEX is proud to be a member of ConfirmHub. We believe that
ConfirmHub's standardized electronic confirmation will provide
significant advantages to users of NYMEX and its off-exchange
brokerage services. NYMEX has always been a supporter of trading
innovation and market transparency." ConfirmHub is a web-based
confirmation system offering a broad range of electronic management
capabilities, standardized formatting and fully electronic trade
matching. By connecting to ConfirmHub users may access all of their
trade confirmations from the world's leading energy brokers and the
world's largest energy exchange through a simple interface that is
enabled to provide state of the art straight-through-processing.
ConfirmHub also accepts submission of confirmations by users,
regardless of origin, eliminating the need for fax or email
confirmation delivery. The basic services of ConfirmHub are free to
industry participants. "NYMEX participation is an exciting step in
the growth of the ConfirmHub," said Pat McKinnon, executive
director of ConfirmHub. "This is a one of a kind alliance and an
industry first. The addition of the NYMEX as a member means that
ConfirmHub users now receive vastly greater value from connecting
to the service." For more on ConfirmHub, go to
http://www.confirmhub.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. DATASOURCE: NYMEX Holdings, Inc.
CONTACT: Anu Ahluwalia of NYMEX, +1-212-299-2439 Web site:
http://www.nymex.com/ http://www.confirmhub.com/
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