NYMEX Holdings, Inc. (NYSE:NMX), the parent company of the New York Mercantile Exchange, Inc., the world's largest physical commodities futures and options exchange, sent the following letter regarding the Wall Street Journal June 11 article entitled, "Where Senators See Flaws, NYMEX Defends Oversight." The letter follows:
TO THE EDITOR OF WALL STREET JOURNAL:
We want to clarify and correct several key points raised in the Wall Street Journal's July 11 story on the recent U.S. Senate Permanent Subcommittee on Investigations (PSI) report on the Amaranth situation and the testimony of the New York Mercantile Exchange, Inc. and other exchanges. In our view, the article omitted key facts or was misleading to readers in certain respects.
First and foremost, the article is totally silent on the PSI's fundamental conclusion on the overall integrity of the energy markets.
From the Nymex