What is the New York Mercantile Exchange (COMEX)?

commodity markets are commercial organizations that carry out purchase of the stake and that the sale of futures in relation to the commodities market. The commodities market has a physical location where you conduct business. Today, the exchange of goods is also access to online trading, including the ability to trade on the Stock Exchange with electronic systems.

One of the biggest trade of raw materialsToday the world is Commodity Exchange, Inc., New York. E 'in the area of ​​Manhattan, New York City. It 's just so COMEX known that the exchange of particular goods has been around for decades and has a solid reputation in the investment community. COMEX is particularly good for the future of metal known, although it is not a bargaining chip in other options.

COMEX was established for the first time in New York in 1933. During the first 40 years of survival, COMEXfocused on trade in copper, silver and aluminum. In 1974, the laws of the United States must change the option for U.S. investors to once again hold gold as an investment and activity, this has changed. On December 31, 1974, New York Commodity Exchange, the first gold futures contract. Options on Gold Futures later in 1982

During 1980, COMEX and the New York Mercantile Exchange began a discussion of the possibilityFusion. The two bags officially one unit, 3 August 1994. Although NYMEX COMEX have fully carry out its futures contracts still listed as functionally distinct.

Now the New York Stock Exchange trading led the division by two: the NYMEX Division, home to platinum is energy, and palladium markets, and the COMEX Division, where metals such as gold, silver and copper The FTSE 100 index options to be negotiated.

L 'COMEX gold futures contract was 31 started in December 1974 and the gold is 100 grams. All prices are in multiples of ten cents per ounce are. COMEX futures area are listed on this calendar. All deliveries are recorded in certificates of deposit of exchange approved warehouses in New York was released. Sales of the COMEX is a year usually eight to nine million contracts, but in 1999 rose to 9.58 million.

The option offers theRight to buy or sell a COMEX gold futures contract on the specified price on or before the due date. In general, contracts are based on 100 ounces of gold. Each option is an American option can be exercised any time prior to the expiration date. The first trading day of a 13 month contract option exercise prices are set for each contract. New strike prices are set in accordance with fluctuations in futures prices. The sales of options wereusually one to two million contracts a year achieved in 1990, but 2.8 million in 1999.

Now, a division of the New York Mercantile Exchange, formerly known as the Commodity Exchange and COMEX in the United States, the largest market for metals futures and options trading. COMEX, hours of working together more accurately reflect the natural world at customer base and open earlier in the day for investors in a wider range of time zones to accommodatethe world.