Location: World Financial Center, One North End Avenue, New York
The New York Mercantile Exchange, Inc., is the world‘s largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals. The Exchange has stood for market integrity and price transparency throughout its 132-year history. Transactions executed on the Exchange avoid the risk of counterparty default because the Exchange clearinghouse acts as the counterparty to every trade. 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.
The Exchange pioneered the development of energy futures and options contracts 26 years ago as means of bringing price transparency and risk management to this vital market.
The Exchange plays a vibrant role in the commercial, civic, and cultural life of New York. It provides thousands of jobs in the financial services and allied industries and, through the New York Mercantile Exchange Charitable Foundation, supports cultural and social service programs in the downtown community as well as broader charitable endeavors in the metropolitan area.
Our trading pits have been centers of drama, history, and financial excitement for more than 125 years. Now you can trace this history at our new museum, and catch the excitement of New York‘s largest commodities exchange as you view trading first-hand from our visitors galleries.
Loud jackets, louder voices, wild gestures.
The New York Mercantile Exchange is the largest physical commodities trading forum in the world. In the Exchange‘s famous trading rings, traders shout buy and sell offers to each other and trade billions of dollars worth of oil, gold, silver, natural gas, electrical power, and other commodities.
Distinctive, colored jackets and strong voices make all the difference for traders who gesture frantically as they compete to buy and sell orders for themselves and hundreds of thousands of customers. This unique, face-to-face method of trading — called open outcry — serves to make trading on the Exchange extremely fluid, quick, and exciting.
From our visitors‘ galleries you can see the excitement of trading in the rings. At the Exchange museum, you can see how futures trading developed and how it‘s used today to buy or sell strategic global commodities.