New York Mercantile Exchange (NYMEX) is the world’s largest physically existing 
futures exchange dealing in commodities. It’s trading is active through two main divisions: the first one is the NYMEX Division, which conducts trading of energy, palladium and platinum markets, whereas the second one is the COMEX Division engaged in trading of metals like silver, gold and copper . FTSE 100 index options also trade at this division. The NYMEX makes use of an outcry system for trading during the day time and otherwise uses an electronic trading system for trading after the trade hours.
This exchange is also known as “The Merc“.
“The Butter and Cheese Exchange of New York” was founded in the year 1872 by a collection of some dairy merchants. During the year 1994, the merger of NYMEX took place with COMEX (commodity exchange). Options and futures are becoming excellent tools for hedging risky positions for companies dealing in precious metals and energy. Hedging activities depend upon the easy trading of these instruments. The always rising future prices have made NYMEX a n important part of the world related to hedging and trading.
Related posts:
