What is the NY Globex, Nymex & CBOT ?

What is the NY Globex, Nymex & CBOT ?

What is the NY Globex ?
The New York Mercantile Exchange (NYMEX) is just like good old-fashioned market place, except on a scale big enough to host world trade, where commodities and commodity futures are traded and prices paid for anything from pork bellies to coffee and cane tell the world what it should pay for these things in markets around the world over time. The New York Commodities Exchange (COMEX) is the material part of the market (gold, silver, copper, Nickel, etc.). Think of it as paper for goods and goods for paper.

The Chicago Board of Trade (CBOT) is the place where financial derivative like futures and options began trading in the US. After merging with the Chicago Mercantile Exchange (the NYMEX counterpart) it became the Chicago Mercantile Exchange Group (CME Group). Think of it as paper for paper.

CME bought NYMEX last month so Chicago and New York are all under one ownership now.

GLOBEX is the 24 hour worldwide electronic platform for trading financial derivatives and is a CME implementation. With financial superpowers now active around the globe in all timezones, GLOBEX gives trading access independent of time and place. This will likely increase smoothness of trading, reduce erratic price swings and prevent imbalances built-up because of traditional markets opening and closing at various times in various places.

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