By Lilla Zuill

NEW YORK (Reuters) - Nymex Holdings Inc NMX.N, parent of the New York Mercantile Exchange and the target of an $11 billion takeover bid by CME Group Inc CME.N, posted a better-than-expected fourth quarter profit on Friday, helped by growth in electronic commodities trading.

The buyout proposal, announced on Monday, keeps up a breakneck pace of consolidation among U.S. and global financial exchanges, as stock markets seek to expand their reach and market share in such areas and equities and options trading.

Net income jumped 50 percent to $63.5 million, or 67 cents a share, from $42.3 million, or 48 cents a share, in the year-earlier period.

Operating revenue for the energy and metals exchange rose 38 percent to $172.6 million.

Analysts' average earnings forecast was 65 cents a share on revenue of $172.4 million, according to Reuters Estimates.

Fourth-quarter clearing and transaction fees rose 38 pct to $144.9 million, and average daily trading volume in the period was 1.54 million contracts, up 28 percent from a year earlier.

CME BID

CME, the parent of the Chicago Mercantile Exchange, said on Monday it was in talks to buy Nymex for $11 billion in cash and stock. The two parties agreed to a 30-day period of exclusive negotiations, and CME has said it would keep a trading operation in the New York area were the deal to be agreed.