NYMEX is located in the financial center of Manhattan, new york, adjacent to new york Stock Exchange. Its trading mainly involves energy and rare metals, but the trading of energy products greatly exceeds that of other products. The trading methods of the exchange are mainly futures and options trading. So far, the trading volume of futures far exceeds that of options. The New York Mercantile Exchange was acquired by the Chicago Mercantile Exchange Group in 2008.
NYMEX plays an important role in the commercial, urban and cultural life of new york. It has provided thousands of employment opportunities for financial services and industrial alliances, supported cultural and social service projects in urban communities through its own charitable foundation, and expanded its charitable efforts in metropolis.
In NYMEX branches, futures and options contracts traded by public bidding include crude oil, gasoline, fuel oil, natural gas and electricity, as well as coal, propane and palladium futures contracts. The exchange's European Brent crude oil and gasoline are also traded by public bidding. E-miNY energy futures, some light and low sulfur crude oil and natural gas futures contracts are also listed on the exchange, which provides an effective means for small investors and businessmen to participate in the energy market. The contract is through GLOBEX of Chicago Mercantile Exchange? Trading electronic trading system, clearing through the clearing house of new york Commercial Futures Exchange.
COMEX is listed on futures and options contracts of gold, silver, copper and aluminum. Within 18 hours after the trading place is closed, the energy and metal contracts of NYMEX Branch and COMEX Branch can be traded through the NYMEXACCESS electronic trading system established on the Internet, so that participants from Japan, Singapore, Hong Kong, London and Switzerland can actively participate in the energy and metal futures market during normal working hours. The integrity of the market is guaranteed by the market, trading and financial supervision system. As the ultimate transaction object of each transaction, the clearing house plays the role of buyer when facing the seller, and plays the role of seller when facing the buyer. Through the margin system of the clearing house, the credit risk of both parties is reduced when market participants trade on the exchange.