Mercantile

Following months of unconfirmed speculation that Nymex Holdings might be on the sale block (see Daily GPI, June 18), the parent company of the New York Mercantile Exchange, a global energy exchange powerhouse, confirmed Tuesday that the company has been in talks with “certain parties” with regard to a “potential business combination.”

Looking to capture the market on environmental futures, the New York Mercantile Exchange (Nymex) announced last week that it is teaming with financial institution heavyweights to form The Green Exchange venture. The new exchange will offer a comprehensive range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy, and other environmental challenges.

Looking to capture the market on environmental futures, the New York Mercantile Exchange (Nymex) announced this week that it is teaming with financial institution heavyweights to form The Green Exchange venture. The new exchange will offer a comprehensive range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy, and other environmental challenges.

The New York Mercantile Exchange Inc. (Nymex) said it plans to expand the listing of consecutive contract months for its natural gas (NG), natural gas swap (NN), and natural gas penultimate swap (NP) futures contracts to the current year plus the next 12 years through December 2020. The contracts are currently listed for the current contract year plus five additional years. “Nymex is providing market participants with unprecedented risk management opportunities,” said Nymex CEO James E. Newsome. “No other energy exchange gives their customers the ability to trade so far out on the curve. We are gratified to provide innovative solutions to help the industry hedge its risk more than a decade into the future.”

Recent spending patterns by North American natural gas producers indicate support for a New York Mercantile Exchange price of around $7.50/Mcf to sustain development, especially in some of the more costly shale plays, according to an energy analyst with John S. Herold.

Recent spending patterns by North American natural gas producers indicate support for a New York Mercantile Exchange price of around $7.50/Mcf to sustain development, especially in some of the more costly shale plays, according to an energy analyst with John S. Herold.

Commodity Futures Trading Commission (CFTC) regulators, a top official of the regulated New York Mercantile Exchange (Nymex) and natural gas consumers last Tuesday called on Congress to take action to increase agency oversight of unregulated electronic commodity platforms, particularly those that trade natural gas.

Commodity Futures Trading Commission (CFTC) regulators and a top official of the regulated New York Mercantile Exchange (Nymex) Tuesday called on Congress to take action to increase agency oversight of unregulated electronic commodity platforms, particularly those that trade natural gas.

A federal appeals court in New York last Wednesday upheld a lower court’s decision that the New York Mercantile Exchange’s (Nymex) settlement prices for oil and natural gas futures are not protected by copyright.