Source: Nymex
The board of directors of Nymex Holdings (NYSE:NMX), parent company of the New York Mercantile Exchange, announced today that it has promoted Samuel Gaer to Nymex Executive Vice President.
He will also continue to serve as Chief Information Officer, a position he has held since 2003.
Mr. Gaer joined NYMEX in 2003 as Chief Information Officer. During his tenure, NYMEX has introduced more than 300 contracts on the NYMEX ClearPort electronic clearing and trading platform; opened a full-scale trading floor in Dublin and an exchange in London, where Mr. Gaer served as Chief Executive Officer; launched electronic and side-by-side trading of NYMEX energy and metals contracts on the CME Globex electronic trading platform; created DME-Direct, the NYMEX ClearPort-based trading platform utilized by the Dubai Mercantile Exchange; and migrated exchange IT systems onto a single, consolidated, and cost efficient hardware and software platform.
Mr. Gaer and the NYMEX technology department have been recognized in CIO Magazine's "CIO 100" list in 2005 and 2007 and as "Best IT Team" by the American Financial Technology Awards.