(01-439) Exchange Acquires Confirmation Clearing Corp.

Notice No. 01-439
December 20, 2001

TO: All Exchange Members and Member Firms

FROM: J. Robert Collins, Jr., President

RE: Exchange Acquires Confirmation Clearing Corp.
________________________________________________________

The New York Mercantile Exchange, Inc., has purchased the assets of
Confirmation Clearing Corp., a firm that provides software to confirm
over-the-counter (OTC) energy transactions.

The software, which is currently in the pilot testing phase, will help
streamline the back office operations involved in confirming OTC trades by
providing standardized, electronic forms through which participants can
confirm their trades within 24 hours of the transaction.

The Exchange plans to make this software available as part of its initiative
to service the OTC trading community. In the next few months, we plan to
extensively broaden the products and services available to this segment of
the trading community and truly make the New York Mercantile Exchange the
one-stop shop for the entire energy industry. The e-confirmations that this
software provides will add increased efficiency and transparency to OTC
business and further extend the high standards that have come to be
associated with the New York Mercantile Exchange name.

To participate in the pilot program, visit www.confirmcorp.com.