NYMEX stands for New York Mercantile Exchange and is the world largest goods futures exchange. It is in New York town center. At first the NYMEX consisted the New York Commodities Exchange (COMEX) of two societies, the New York Mercantile Exchange and. Meanwhile they merged into a society.

At this stock exchange metals, energy products and other goods are acted. The trade takes place both on the parquet and over computer systems and over the Commodity Futures Trading Commission, an authority of the US Government is adjusted.

History of the stock exchange

The roots of the goods futures exchanges are appropriate in 19. Century. There dealers at determined points began themselves to meet to buy over goods or sell. Toward end 19. Century at ports and Eisenbahnstationen over 1.600 market places had developed in such a way. In the year 1872 milk dealers from Manhattan united to the New Yorker butter and cheese stock exchange. Later eggs were also taken up to the trade and the name was changed accordingly. Ten years after the establishment the name was again changed. The new designation was New York Mercantile Exchange, there now the trade also for drying fruits, canned goods goods and poultry was opened. In early 20. Century began one large to build centralized department stores in New York and Chicago. Thus the small local stock exchanges disappeared gradually and the trade to larger places like the NYMEX were shifted.

In run further unions of the stock exchanges national Metal Exchange, Rubber Exchange OF New York, national Raw Silk Exchange and New York Hide Exchange originated in to 1933 the COMEX. This was merged on 3 August 1994 with the NYMEX.

Under the terror attacks 11 September decided the responsible persons to establish a commercial area on Long Iceland as Backup. The building cost 12 million US Dollar and contains places for 700 dealers, 2,000 telephones and a baking UP computer system.

Related links

• Web page of the NYMEX
• National Futures Association

Articles in category "New York Mercantile Exchange"

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