NYBOT CHIEF HARRY FALK DEAD AT 66

New York Board of Trade chief Harry Falk – weeks away from closing an historic deal to sell the downtown commodities market to the IntercontinentalExchange, died suddenly yesterday morning after suffering an apparent heart attack.

Sources said Falk, who was 66, had a history of heart trouble and had undergone cardiac bypass surgery in the spring of last year, but appeared recently to be in good health.

For several months, Falk had been negotiating the $1.5 billion merger with ICE, an all-electronic commodities exchange, based in Atlanta.

While Falk was expected to stay on in some capacity after the merger, sources said he was planning to retire as soon as next year.

“This is a real shame,” said one Nybot trader. “Harry was one of the most honest guys in the world and he really worked hard on this deal and wanted to see it through.”

As part of the negotiations, Falk successfully assuaged Nybot traders, who feared the deal with ICE would lead to a shutdown of the trading floor.

Last month, Nybot’s members overwhelmingly approved the merger.

A spokesman for Nybot said Falk’s sudden death would not affect the deal, which is expected to close later this year.

The Nybot and the New York Mercantile Exchange, which are housed in the same building downtown, will observe a moment of silence at 11 a.m. today in honor of Falk.

“We were deeply saddened to learn of Harry’s passing,” said Nymex Chairman Richard Schaeffer and CEO James Newsome.

“We send our heartfelt sympathies to Harry’s family, friends and colleagues.”

Falk is survived by his wife Joan, five children and 12 grandchildren.