New York Mercantile Exchange (Nymex)’s net income rose 45% during 2007. The earnings come during the same week that it was revealed that it was in discussions to be taken over by CME Group.

Total income for the year totalled $224m, surpassing the previous income levels of $154.8m in 2006. However, these results would have been even more impressive had it not be for the exchange’s investment on Optionable. Nymex revealed that excluding the cost of the Optionable saga, income would have totalled $238.8m. Optionable acted as broker to Bank of Montreal which sustained trading losses of $315 - $405m through gas trading.

Nymex also reported strong Q4 results for the year. Total operating revenues increased 38%, totalling $172.6m which exceeded the levels recorded in 2006 of 124.8m.

Net income for the quarter also rose, totalling $63.5m which surpassed the 2006 level of $42.3m.

"We delivered a strong year of operating performance and profitability as we continued to execute on our strategic goals. Throughout the year we delivered dramatic volume growth through the successful adoption of electronic trading of our markets, while also expanding into new markets and establishing important alliances, such as the launch of our leading Dubai Mercantile Exchange (DME) joint venture in June,” said Nymex chairman Richard Schaeffer. “We are proud of our leadership in creating The Green Exchange venture, which we expect will become the primary exchange for environmental markets contracts. We remain focused on expanding our distribution internationally, developing innovative product offerings and new ventures, and continuing to deliver profitable growth to shareholders."