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WIKI ANALYSIS
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This article describes a futures exchange on which futures contracts are traded. Click here to view articles referencing this exchange. |
The New York Mercantile Exchange is a futures exchange located in New York City, New York. The exchange is perhaps best known for energy futures contracts, the trading of which the exchange facilitates. These include light, sweet crude; brent crude; and RBOB gasoline.
The NYMEX also owns and operates the Commodities Exchange (COMEX) as a subdivision of the exchange.
Though operating independently, the NYMEX is owned by the Chicago Mercantile Exchange Holdings Company, which also owns the Chicago Mercantile Exchange and the Chicago Board of Trade. The CME group completed its acquisition of the NYMEX on March 17th, 2008.
NYMEX and COMEX
The NewYork Mercantile Exchange was founded in 1872 by a group of dairy merchants. Today, the NYMEX is a commodity futures exchange, listing energy and precious metals futures contracts. The Exchange is organized into two divisions, the NYMEX, where you can trade energy, platinum, and palladium, and the Commodity Exchange (COMEX), where you can trade other metals.The Commodities Exchange (COMEX) was formerly an independent exchange. However, the COMEX was acquired by the NYMEX on August 3rd, 1994. Currently the COMEX operates as a sub-division of the NYMEX. However, it should be noted that while COMEX is fully owned and operated by NYMEX, metals futures contracts are still listed as being traded on the COMEX.
See Also
Futures Contracts Traded on the NYMEX
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