The energy exchange NYMEX Holdings, Inc. (NMX: chart) on Thursday priced its IPO of 6.5 million shares, about a 7.5% stake in the company, at $59 per share, above its $54 to $57 forecast range. The deal was worth $385.5 million.

The company’s shares began trading at $120 on the New York Stock Exchange, up 103% from the initial price.

NYMEX offered 5.4 million shares while selling stockholders sold 1.1 million shares.

The underwriters were J.P.Morgan, Merrill Lynch, Banc of America Securities, Citigroup, Lehman Brothers and Sandler O''Neill.

The company has granted the underwriters a 30-day option to buy up to 975,000 additional shares to cover excess demand.

NYMEX is the largest physical commodity-based futures exchange and clearinghouse in the world.

Investor demand led the exchange to increase the size and forecast of its price earlier in the week from 6 million shares at a price of $48 to $52 per share.

New York-based NYMEX follows the latest IPOs from exchanges. The NYSE Group Inc. (NYX: chart) launched its shares in March and rose 25% on their first day of trading. IntercontinentalExchange (ICE: chart) and CBOT Holdings Inc. (BOT: chart) both soared at their start last year.

NYMEX stock closed at $132.99 a share their first day of trading, up as much us 125% from the IPO price