NEW YORK, March 14 /PRNewswire-FirstCall/ -- The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. , today announced that it will launch a New York Harbor ethanol futures contract on March 30 for trade date March 31.
The contract (commodity code QE) will be available for trading on the CME Globex(R) electronic trading platform and for clearing on NYMEX ClearPort(R). It will be listed for 36 consecutive months, beginning with the May 2008 contract. The last trading day will be the last business day of the month preceding the delivery month.
The contract size will be 42,000 gallons in size with the minimum price fluctuation of $0.0001 per gallon.
For information on fees, visit 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.
