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Encyclopedia > New York Mercantile Exchange
New York Mercantile Exchange
Type NYSE listed public company
Founded 1882
Headquarters New York, US
Website www.nymex.com

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 separate but are now merged. The New York Mercantile Exchange, Inc. is now traded publicly, as its parent company, NYMEX Holdings, Inc. became listed on the New York Stock Exchange on November 17, 2006, under the ticker symbol NMX. A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... For other uses, see World (disambiguation). ... This article does not cite any references or sources. ... The introduction to this article provides insufficient context for those unfamiliar with the subject matter. ... New York, New York and NYC redirect here. ... This page deals with the combination of two companies into one. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... 17 November is also the name of a Marxist group in Greece, coinciding with the anniversary of the Athens Polytechnic uprising. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...


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 various commodities throughout the world. This article is about the physical quantity. ... For alternative meanings see metal (disambiguation). ... Buy may refer to: Trade, voluntary exchange of goods, services, or both Buy (town), a town in Kostroma Oblast, Russia Category: ... Sell can mean: A verb relating to Sales Sell (professional wrestling) In Investing to give up control of an asset in exchange for a valuable consideration. ... This article is about economic exchange. ... This article is about the machine. ... A financial transaction involves a change in the status of the finances of two or more businesses or individuals. ... For other uses, see World (disambiguation). ...


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. The NYMEX is one of the few exchanges in the world to maintain the open outcry system, where traders employ shouting and complex hand gestures on the physical trading floor. The Commodity Futures Trading Commission (CFTC) is an independent agency of the United States Government, created by Congress in 1974. ... Independent agencies of the United States government are those that exist outside of the departments of the executive branch. ... This article is about the federal government of the United States. ... For other uses, see Corporation (disambiguation). ... Open outcry occurs on a commodities exchange when traders shout their buy and sell orders. ...


On February 26, 2003, the New York Board of Trade (NYBOT) signed a 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. [1] is the 57th day of the year in the Gregorian calendar. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... The New York Board of Trade (NYBOT) is a physical commodity futures exchange located in New York, New York. ... A sequential look at United Flight 175 crashing into the south tower of the World Trade Center The September 11, 2001 attacks (often referred to as 9/11—pronounced nine eleven or nine one one) consisted of a series of coordinated terrorist[1] suicide attacks upon the United States, predominantly... For other uses, see World Trade Center (disambiguation). ...


After the terrorist attacks, the NYMEX built a $12 million trading floor backup facility outside of New York City with 700 trader's boothes, 2,000 telephones, and a backup computer system. This backup is in case of another terrorist attack on Lower Manhattan or a natural disaster. [2] For other uses, see Telephone (disambiguation). ... This article is about the borough of New York City. ... Mount Pinatubo eruption, 1991 A natural disaster is according to or provided by nature. ...

NYMEX building in World Financial Center
NYMEX building in World Financial Center

Contents

A view of the World Trade Center, World Financial Center, and Battery Park City from the Hudson River on August 26, 2000. ...

History of the exchange

Commodity exchanges began in the middle of the 19th century, when businessmen began organizing market forums to make buying and selling of commodities easier. These marketplaces provided a place for buyers and sellers to set the quality, standards, and establish rules of business. By the late 1800s about 1,600 marketplaces had sprung up at ports and railroad stations. In 1872, a group of Manhattan dairy merchants got together and created the Butter and Cheese Exchange of New York. Soon, egg trade became part of the business conducted on the exchange and the name was modified to the Butter, Cheese, and Egg Exchange. In 1882, the name finally changed to the New York Mercantile Exchange when opening trade to dried fruits, canned goods, and poultry. As centralized warehouses were built into principal market centers such as New York and Chicago in the early 20th century, exchanges in smaller cities began to disappear giving more business to the exchanges such as the NYMEX in bigger cities. In 1933, the COMEX was established through the merger of four smaller exchanges; the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange. On August 3, 1994, the NYMEX and COMEX finally merged under the NYMEX. Now, the NYMEX operates in a state of the art trading facility and office building with two trading floors in the World Financial Center in downtown Manhattan. On March 17, 2008, NYMEX accepted an offer from CME Group, the parent of the Chicago Mercantile Exchange and the Chicago Board of Trade, to purchase it for $8.9 billion in cash and CME Group Stock. [3] Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ... // Invention of the Jacquard loom in 1801. ... For other uses, see Port (disambiguation). ... Passengers bustle around the typical grand edifice of Londons Broad Street station in 1865. ... Year 1872 (MDCCCLXXII) was a leap year starting on Monday (link will display the full calendar) of the Gregorian Calendar (or a leap year starting on Saturday of the 12-day slower Julian calendar). ... A dairy farm near Oxford, New York in the United States. ... For other uses, see Butter (disambiguation). ... Cheese is a solid food made from the milk of cows, goats, sheep, and other mammals. ... Chicken egg (left) and quail eggs (right), the types of egg commonly used as food An egg is a body consisting of an ovum surrounded by layers of membranes and an outer casing of some type, which acts to nourish and protect a developing embryo. ... Year 1882 (MDCCCLXXXII) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Friday of the 12-day slower Julian calendar). ... For other uses, see Fruit (disambiguation). ... Ducks amongst other poultry The Poultry-dealer, after Cesare Vecellio Poultry is the category of domesticated birds kept for meat, eggs, and feathers. ... For other uses, see Chicago (disambiguation). ... (19th century - 20th century - 21st century - more centuries) Decades: 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s As a means of recording the passage of time, the 20th century was that century which lasted from 1901–2000 in the sense of the Gregorian calendar (1900–1999 in the... Year 1933 (MCMXXXIII) was a common year starting on Sunday (link will display full calendar) of the Gregorian calendar. ... is the 215th day of the year (216th in leap years) in the Gregorian calendar. ... Year 1994 (MCMXCIV) The year 1994 was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by the United Nations. ... A view of the World Trade Center, World Financial Center, and Battery Park City from the Hudson River on August 26, 2000. ... This article is about the borough of New York City. ... is the 76th day of the year (77th in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... The Chicago Mercantile Exchange (CME or, simply, The Merc) (NYSE: CME) is an American financial exchange based in Chicago. ... President George W. Bush at the CME (March 6, 2001). ... The Chicago Board of Trade (CBOT) NYSE: BOT, established in 1848, is the worlds oldest futures and options exchange. ...


Location

The official address of the NYMEX headquarters and trading facility is One North End Avenue, New York, NY 10282-1101. The company has additional offices in Houston, Washington D.C., Dubai, London, and Hong Kong. Houston redirects here. ... Aerial photo (looking NW) of the Washington Monument and the White House in Washington, DC. Washington, D.C., officially the District of Columbia (also known as D.C.; Washington; the Nations Capital; the District; and, historically, the Federal City) is the capital city and administrative district of the United... Location of Dubai in the UAE Coordinates: , Country Emirate Dubai Incorporated (town) June 9, 1833 Incorporated (emirate) December 2, 1971 Founder Maktoum bin Bati bin Suhail (1833) Seat Dubai Subdivisions Towns and villages Jebel Ali Hatta Al Hunaiwah Al Aweer Al Hajarain Al Lusayli Al Marqab Al Shindagha Al Faq... This article is about the capital of England and the United Kingdom. ...


Commodities traded on the exchange

Aluminum is a soft and lightweight metal with a dull silvery appearance, due to a thin layer of oxidation that forms quickly when it is exposed to air. ... Coal Example chemical structure of coal Coal is a fossil fuel formed in ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... For other uses, see Copper (disambiguation). ... Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ) or crude oil is a thick, dark brown or greenish liquid. ... Electricity (from New Latin ēlectricus, amberlike) is a general term for a variety of phenomena resulting from the presence and flow of electric charge. ... Look up gasoline in Wiktionary, the free dictionary. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... Heating oil, or burning oil, also known in the United States as No. ... For other uses, see Natural gas (disambiguation). ... For other uses, see Palladium (disambiguation). ... General Name, Symbol, Number platinum, Pt, 78 Chemical series transition metals Group, Period, Block 10, 6, d Appearance grayish white Standard atomic weight 195. ... Propane is a three-carbon alkane, normally a gas, but compressible to a liquid that is transportable. ... This article is about the chemical element. ... This article is about the chemical element. ...

Holidays and Special Dates

Date Day Holiday Open Outcry Electronic Clearport
1 January 2007 Monday New Years Day Closed Closed until 18:00 Closed until 18:00
15 January 2007 Monday Martin Luther King Day Closed Open Open
19 February 2007 Monday President's Day Closed Open Open
6 April 2007 Friday Good Friday Closed Closed Closed
28 May 2007 Monday Memorial Day Closed Open Open
4 July 2007 Wednesday Independence Day Closed Open Open
3 September 2007 Monday Labor Day Closed Open Open
22 November 2007 Thursday Thanksgiving Closed Open Open
25 December 2007 Tuesday Christmas Holiday Closed Closed until 18:00 Closed until 18:00

See also

// Montreal Exchange Winnipeg Commodity Exchange Chicago Board Options Exchange (CBOE) Chicago Board of Trade (CBOT) Chicago Butter and Egg Board, precursor to the Chicago Mercantile Exchange (CME) Chicago Climate Exchange Chicago Mercantile Exchange (CME) Commodity Exchange (COMEX), now a division of NYMEX Intercontinental Exchange (ICE) International Monetary Market (IMM), part... Commodity Exchange Act is a federal act passed in 1936 by the U.S. Government (replacing the Grain Futures Act of 1922). ... The Chicago Board of Trade (CBOT) NYSE: BOT, established in 1848, is the worlds oldest futures and options exchange. ...

External links


Coordinates: 40°42′52″N, 74°1′1″W Map of Earth showing lines of latitude (horizontally) and longitude (vertically), Eckert VI projection; large version (pdf, 1. ...


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