New York Mercantile Exchange - NYMEX

What does it mean?
The world’s largest physical commodity futures exchange. Trading is conducted through two divisions, the NYMEX Division, home to the energy, platinum, and palladium markets; and the COMEX Division, on which all other metals trade.



In Other Words...
In 1872, a group of dairy merchants founded “The Butter and Cheese Exchange of New York.” With the addition of more products to be traded, the name was eventually changed to what it is today.

Futures and options on energy and precious metals have become great tools when companies try to manage risk. The ease at which these instruments are traded is vital to hedging activities and gauging future prices.
 

Related Links
Options Basics Tutorial - An introduction to the world of options, covering everything from primary concepts to how options work and why you might use them.

Related Terms
Commodity | Future | Hedge | Option | Precious Metals | Risk

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