The Wall Street Journal-20080202-Earnings Digest Brief -- Financial Services- Nymex Holdings Inc-

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Earnings Digest Brief -- Financial Services: Nymex Holdings Inc.

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The growing popularity of electronic trading helped to spark a 50% profit rise for Nymex Holdings Inc. in the fourth quarter. The parent of the New York Mercantile Exchange, also credited the profit jump to falling costs and increased volume at the end of 2007, a turbulent time for financial markets. CME Group, the parent of the Chicago Mercantile Exchange, on Monday said it was in talks to buy Nymex in a deal valued at about $11 billion. "We continue to like the stock at current levels given the proposed transaction with CME and our view there is some probability of another bidder," said Christopher Allen, an analyst with Banc of America equity research. Fourth-quarter transaction and fees rose 38% to $144.9 million, with daily trading volume averaging 1.54 million contracts.