Located in the New York City, the New York Mercantile Exchange (NYMEX) is the world's largest physical commodity futures exchange. Handling 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 New York Mercantile Exchange is one of the Major Stock Markets Of U.S.A. The two principal divisions of this Stock Market are the New York Mercantile Exchange and the New York Commodities Exchange (COMEX) which were once independent companies but are now merged.
On November 17, 2006, the New York Mercantile Exchange, Inc. traded publicly, as its parent company, NYMEX Holdings, Inc. became listed on the New York Stock Exchange under the ticker symbol NMX. The quoted prices on transactions are on the basis for prices that people pay for throughout the world. The Commodity Futures Trading Commission, an independent agency of the United States government regulates the floor of the NYMEX. All individual company is required to send their trades on the exchange through their own independent brokers.
The New York Mercantile Exchange is one of the few Major Stock Markets of the World to maintain the open outcry system, where traders employ shouting and complex hand gestures on the physical trading floor.
The New York Board of Trade (NYBOT) signed a lease agreement with the New York Mercantile Exchange on February 26, 2003, 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. The New York Mercantile Exchange built a $12 million trading floor backup facility outside of New York City with 700 trader's booths, 2,000 telephones, and a backup computer system after the terrorist attack.
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