New York Oil Exchange

New York Oil Exchange

NYMEX (New York Mercantile Exchange) - the new York Mercantile exchange, the largest in the world, leading to the 1974 trade futures contracts. On the new York Mercantile exchange kept trades futures and options contracts for crude oil, gasoline, fuel oil, natural gas, electricity, gold, silver, aluminum and platinum. Futures contracts for coal, propane and palladium; option contracts on the difference of prices of crude oil and gasoline, New York Oil Exchange and heavy fuel oil, crude oil Brent and West Texas Intermediate, and many of futures on monthly contracts (calendar spread) for oil Light sweet and Brent, gasoline, fuel oil and natural gas. Work exchange NYMEX, New York Oil Exchange is regulated by the Commission on futures trade in goods (Commodity Futures Trading Commission (CFTC), an independent Federal Agency of the U.S. Government, established in 1974 for the regulation of futures and options transactions on purchase/sale of the goods and protection of the participants of the futures commodity markets from unfair trade and fraud. Each company, trading on the stock exchange must provide their independent broker. Thus, several people on the site, are large Corporation, in exchange they only record of the transaction and are not connected with the real trade.
On the exchange NYMEX operates two divisions: - NYMEX on which are traded all energy resources (oil, gasoline, fuel oil, natural gas, electricity, etc.), as well as platinum and palladium, and COMEX (commodity exchange) where the trade is carried out other metals (gold, silver, copper, aluminum) On the NYMEX as organized by the trade mini contracts - NYMEX miNY. The headquarters of the NYMEX and trade sites are located at One North End Avenu, New York, NY 10282-1101. Additional offices in Houston, Washington, London and Hong Kong.
The history of the NYMEX
In 1872, a group of producers of dairy products Manhattan gathered together and organized the new York stock exchange cheese and butter (Butter and Cheese Exchange of New York) with the purpose of organization of the civilized market of new York and standardization of contracts. Soon began to be bidding in the balls and the stock exchange was renamed the new York stock exchange cheese, butter, and eggs (Butter, Cheese, and Egg Exchange). In 1882, the exchange began to be called the new York Mercantile exchange New York Mercantile Exchange, after the trade of dried fruits, canned food and a bird. Centralized warehouses were built in large cities, such as Chicago and new York, and the exchange in small towns, began to gradually disappear. After years of specialization exchange has changed and now it is the biggest world trade center New York Oil Exchange and metals.

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