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Nymex trading volume skyrockets in May



By AP
17 June 2008 @ 09:06 am EST

NEW YORK - Nymex Holdings Inc., operator of the New York Mercantile Exchange, said Tuesday daily average trading volume in May rose 38 percent.

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Average daily volume totaled 1.9 million contracts in May, compared with 1.4 million contracts per share during the same month last year.

Nymex estimated the gross average rate per contract in May was $1.57, compared with $1.61 per contract during May 2007. The net average rate per contract remained flat at $1.33.

Direct transaction costs rose to $9.6 million in May from $8.5 million during the year-ago period.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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