As planned, he will replace Samuel H. Gaer, NYMEX chief information officer, who served as interim chief executive officer of NEL, which successfully launched in September 2005.

Mr. Gooch has extensive experience in the global commodity markets. He headed both exchange traded and over–the–counter commodities for Calyon SA and is a former non–executive director of the International Petroleum Exchange and the London Metal Exchange.

Mr. Gaer will remain in New York to focus on his CIO responsibilities, including the continued development of NYMEX's flagship electronic system, the NYMEX ClearPort clearing and trading platform. He will retain responsibility for all information technology issues worldwide.

Roy Leighton, chairman of NEL, said, "Andy has an in–depth knowledge of the cash and derivatives energy markets, as well as the customers and the firms trading in these markets, and he will be a valuable addition to our management in Europe. Electronic trading of the reduced–sized Brent crude oil miNY futures contract started this week at NEL, and Andy joins us at an important time when we have a range of new initiatives for the energy markets around the world."

Mr. Gaer said, "Launching NYMEX Europe was an exciting and fulfilling project. Andy's vast experience in the energy industry will equip him for all of the interesting challenges that lie ahead as we strive to expand the offerings of our London exchange. I am proud to welcome Andy as part of the NYMEX Europe team."