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The Green Exchange™ Announces Vitol and RNK to be Founding Members
NEW YORK, March 12, 2008 /PRNewswire-FirstCall/ -- The Green Exchange(TM),
today announced that Vitol SA, one of the largest energy trading firms in
the world, and RNK Capital LLC, a private energy and environmental markets
investment firm, each have agreed to work toward building The Green
Exchange venture as founding members.
In December 2007, The Green Exchange initiative was introduced by NYMEX
Holdings, Inc., with Evolution Markets, Morgan Stanley, Credit Suisse,
JPMorgan, Merrill Lynch, Tudor Investment and Constellation Energy. 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 first slate of
environmental futures and options contracts will be introduced on the New
York Mercantile Exchange, Inc., the world's largest physical commodities
exchange and a subsidiary of NYMEX Holdings, on March 16 for trade date
March 17.
David Fransen, Managing Director of Vitol SA, said, "Vitol is very
pleased to be a supporter of The Green Exchange(TM). As a leading trader in
this new and developing market, Vitol is committed to supporting liquidity
and the overall development of The Green Exchange."
"We are excited to put our support behind The Green Exchange. The
exchange and its participants will provide a means of efficiency
transacting business and liquidity in these ever growing markets,"
commented Rob Koltun, Managing Member of RNK Capital LLC.
About Green Exchange
The Green Exchange initiative was introduced by NYMEX Holdings, Inc.
(NYSE: NMX) in December 2007, with Evolution Markets, Morgan Stanley,
Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment and Constellation
Energy. 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. For
further information about The Green Exchange, please visit http://www.greenfutures.com.
About Vitol SA
The Vitol SA is one of the largest and most successful traders in the
world's energy marketplace. Vitol's main trading operation is located in
Geneva, Switzerland. The company also has interests in various oil
terminals and oil exploration projects. Additional information can be found
at http://www.vitol.com.
About RNK Capital LLC
RNK Capital LLC is a private investment firm specializing in the global
environmental, emissions, energy, utilities and water markets. Through its
environmental and emissions strategy, RNK Capital is an active trader in
the various U.S. and international carbon and environmental markets. It is
also a leading specialist in structured transactions for the global carbon
and other environmental markets, including early-stage compliance projects.
For more information, please visit RNK Capital's website at
http://www.RNKCapital.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.
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