NYMEX Partners With UX Consulting To Offer Uranium Futures Contracts 16/04/07
The New York Mercantile Exchange, Inc., a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), the world's largest physical commodity exchange, today signed a 10–year agreement with the Ux Consulting Company, LLC (UxC), the global uranium pricing index and information leader, to introduce on and off-exchange traded uranium futures products on the CME Globex® and NYMEX ClearPort® electronic platforms on May 6 for trade date May 7.
NYMEX and UxC will work together to provide marketing and education for these financially settled contracts, which will serve as the pricing benchmark for this rapidly growing industry.
NYMEX Chairman Richard Schaeffer said, "We are excited to introduce uranium futures contracts and to provide the industry with a transparent price discovery mechanism. We expect to create a benchmark contract for this important and underserved global market. NYMEX is gratified to launch innovative products, and uranium is uniquely positioned to act as a complement to both our energy and metals product offerings. We are proud to partner with Ux Consulting, the recognized market leader."
UxC President Jeff Combs said "The experience this decade has clearly indicated that the uranium market would benefit from additional price transparency, especially in terms of forward prices, as market participants formulate budget and investment decisions in this critical period of a renaissance in nuclear power. We are pleased to partner with NYMEX, the global leader in commodities–based futures trading, in the introduction of uranium futures products, and applaud NYMEX for investing the time and resources necessary to make uranium futures a reality."
About NYMEX Holdings, Inc. NYMEX Holdings, Inc. (NYSE:NMX) is the parent company of the New York Mercantile Exchange, Inc., the world' largest physical commodities–based futures and options exchange in the world, offering futures and options trading in energy and metals contracts and clearing services for more than 300 off–exchange energy contracts. Through a hybrid model of open outcry floor trading and electronic trading on CME Globex® and NYMEX ClearPort® , NYMEX offers crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, platinum group metals, emissions, and soft commodities contracts for trading and clearing virtually 24 hours each day. Further information about NYMEX Holdings, Inc. and the New York Mercantile Exchange, Inc. is available on the NYMEX website at http://www.nymex.com.
About Ux Consulting The Ux Consulting Co., LLC (UxC) is the leading source of nuclear industry market information. Through its consulting, information services, and publications, UxC provides in–depth coverage and analysis of nuclear fuel market trends. Through its Ux Weekly publication and daily news headlines service, UxC keeps its worldwide clients abreast of market price and nuclear industry developments. Further information about UxC is available on the UxC website at http://www.uxc.com
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