New York Mercantile Exchange

The New York Mercantile Exchange (NYMEX) is the world's largest physical commodity futures exchange located in New York City. Its two principal divisions are the New York Mercantile Exchange and the New York Commodities Exchange (COMEX) which were once independent companies but are now merged.

Related Topics:
World - Commodity - Futures exchange - New York City - Companies - Merged

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The New York Mercantile Exchange handles billions of dollars worth of energy products, metals, and other commodities being bought and sold on the trading floor and the overnight electronic trading computer systems. The prices quoted for transactions on the exchange are the basis for prices that people pay for throughout the United States and the World.

Related Topics:
Energy products - Metals - Bought - Sold - Trading - Computer systems - Transactions - United States - World

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The New York Mercantile Exchange, Inc. is a private company which plays a vibrant role in the commercial, civic, and cultural life of New York and supports thousands of jobs. The floor of the NYMEX is regulated by the Commodity Futures Trading Commission, an independent agency of the United States Government. Each individual company that trades on the exchange must send their own independent brokers. Therefore, a few employees on the floor of the exchange represent a big corporation and the exchange employees only record the transactions and have nothing to do with the actual trade.

Related Topics:
Company - Commodity Futures Trading Commission - Independent agency - United States Government - Corporation

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On February 26, 2003, The New York Board of Trade (NYBOT) signed a historic lease agreement with the NYMEX to move into its World Financial Center headquarters and trading facility after the NYBOT's original headquarters and trading floor was destroyed in the September 11, 2001 Terrorist Attacks on the World Trade Center. http://www.nybot.com/releases/pressRelease.asp?releaseID=565

Related Topics:
February 26 - 2003 - New York Board of Trade - September 11, 2001 Terrorist Attacks - World Trade Center

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After the terrorist attacks, the NYMEX has built a $12 million trading floor backup facility on Long Island with 700 trader's booth, 2,000 telephones, and a backup computer system. This expensive backup is needed in case of another terrorist attack on Lower Manhattan or a natural disaster. http://www.nycp.org/Web_News/General_Partnership/nyt%20-%20Financial%20Backup%20Sites%20How%20Dispersed%20-%201.htm?pagewanted=1

Related Topics:
Long Island - Telephone - Natural disaster

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