Notice 01-128
April 11, 2001


TO:
All Exchange Members/Member Firms
All Exchange Clearing Members

FROM:
Neal Wolkoff
Executive Vice President

RE:
INTRODUCTION OF BRENT CRUDE OIL FUTURES CONTRACT

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At the recommendation of its crude oil advisory committee, the board of 
directors of the New York Mercantile Exchange, Inc., this morning voted to 
develop a 15-day Brent Blend crude oil futures contract that will be traded 
in the ring alongside the Exchange,s benchmark light, sweet crude oil futures 
contract.

The new contract will be cash-settled based on an index currently under 
development by the Exchange staff and crude oil advisory committee.

This contract is a natural fit for our marketplace since many of our 
customers and traders are already participating in this market.  Net 
margining between the two benchmark crudes and an aggressive program to 
reduce other trading costs will benefit our customers, members, and the 
marketplace as a whole.  Being offered on the New York Mercantile Exchange 
will enhance this market through absolute neutrality and our demonstrated 
liquidity and expertise in creating efficient energy markets.

For more information, please call Robert Levin, Senior Vice President of 
Planning and Development at (212) 299-2390, or Daniel Brusstar, Director of 
Energy Research, at (212) 299-2604.


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