New York Mercantile Exchange
| New York Mercantile Exchange
|
|
|---|---|
 |
|
| legal form | Part of the CME Group |
| founding | 1872 |
| Seat | New York City , USA |
| management | Craig S. Donohue, CEO |
| Number of employees | 400 (2007) |
| sales | $ 673.6 million (2007) |
| Branch | Stock exchange |
| Website | www.cmegroup.com |
The New York Mercantile Exchange ( NYMEX ) is the world's largest commodity futures exchange . It is located in New York City , United States . Previously, NYMEX consisted of two companies, the New York Mercantile Exchange and the New York Commodities Exchange (COMEX), which have been merged into one company since 1994. In 2008 the exchange was taken over by the CME Group .
Commodity trading
Raw materials such as metals , energy products and agricultural raw materials are traded on this exchange . Trading takes place both on the floor and through electronic trading systems and is regulated by the Commodity Futures Trading Commission , an agency of the US government. The following commodities are traded in the two departments New York Commodities Exchange (COMEX) and New York Mercantile Exchange (NYMEX):
- COMEX: aluminum, gold, copper and silver
- NYMEX: cotton, gasoline, diesel, electrical energy, ethanol, natural gas, petroleum, heating oil, coffee, cocoa, coal, palladium, platinum, propane, steel, uranium and sugar
The table shows the trading hours of some commodities on the COMEX and NYMEX in Central European Time (CET).
| raw material |
ISIN |
WKN |
ticker |
Floor trading |
Electronic commerce |
Department |
|---|---|---|---|---|---|---|
| natural gas | - | - | - | 4:00 pm - 8:30 pm | Sunday-Friday 0: 00-23: 15 | NYMEX |
| oil | - | - | - | 3:00 p.m. - 8:30 p.m. | Sunday-Friday 0: 00-23: 15 | NYMEX |
| gold | XC0009655157 | 965515 | XAU / USD | 2:20 pm – 7:30 pm | Sunday-Friday 0: 00-23: 15 | COMEX |
| copper | XC0009656965 | 965696 | HG | 2:10 pm-7:00 pm | Sunday-Friday 0: 00-23: 15 | COMEX |
| palladium | XC0009665529 | 966552 | XPD / USD | 2:30 pm-7:00 pm | Sunday-Friday 0: 00-23: 15 | NYMEX |
| platinum | XC0009665545 | 966554 | XPT / USD | 2:20 pm – 7:05 pm | Sunday-Friday 0: 00-23: 15 | NYMEX |
| silver | XC0009653103 | 965310 | XAG / USD | 2:25 pm – 7:25 pm | Sunday-Friday 0: 00-23: 15 | COMEX |
| steel | - | - | - | 2:20 pm – 7:30 pm | Sunday-Friday 0: 00-23: 15 | NYMEX |
| uranium | - | - | - | 3:00 p.m. - 8:30 p.m. | Sunday-Friday 0: 00-23: 15 | NYMEX |
history
The roots of the commodity futures exchanges lie in the 19th century. There traders began to meet at set points to buy or sell goods. Towards the end of the 19th century, over 1,600 marketplaces were created at ports and railway stations. In 1872, Manhattan milk merchants formed the Butter and Cheese Exchange of New York. Eggs were later included in the trade and the name changed accordingly. In 1882 the name was changed again. The new name was "New York Mercantile Exchange (NYMEX)", since now the trade was also opened for dried fruit, canned goods and poultry.
In the early 20th century, large, centralized department stores began to be built in New York and Chicago . As a result, the small local exchanges disappeared and trading shifted to bigger places like NYMEX. In the course of further mergers of the “National Metal Exchange”, “Rubber Exchange of New York”, “National Raw Silk Exchange” and “New York Hide Exchange”, the “New York Commodities Exchange (COMEX)” was created on July 5, 1933. Above all metals, rubber, silk and furs were traded. The COMEX was merged with the NYMEX on August 3, 1994.
As a result of the terrorist attacks on September 11, 2001 , those responsible decided to build a trading room on Long Island as a backup. It cost twelve million US dollars to build and includes space for 700 dealers, 2000 phones and a backup computer system. The attacks destroyed the headquarters of the New York Board of Trade (NYBOT) in the World Trade Center . On February 26, 2003, NYBOT (since 2007 ICE Futures US ) moved its headquarters to the NYMEX building in the World Financial Center on the southern tip of Manhattan.
On March 17, 2008, the CME Group reached an agreement with NYMEX on its takeover. The agreed purchase price was 9.48 billion US dollars (approx. 6.15 billion euros). Of this, shareholders received $ 3.4 billion in cash and $ 6.08 billion in shares. The purchase was completed on August 22, 2008.
Web links
Individual evidence
- ^ Hoovers: NYMEX Holdings - Company Overview
- ↑ MetalPrices.com: COMEX / NYMEX Trading Hours
- ↑ Manager Magazin: CME takes over Nymex , March 17th, 2008
Coordinates: 40 ° 42 '52.4 " N , 74 ° 1' 1.1" W.