COMEX Commodities Exchange

In 1933, COMEX was established through the merging of 4 smaller american commodities exchanges : the National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange, and the New York Hide Exchange.

In 1994, two separate entities, the New York Commodities Exchange (COMEX) merged with another division called New York Mercantile Exchange (NYMEX).

New York Mercantile Exchange Inc. is a publicly traded company that handles billions of dollars worth of metals, energy products and other commodities.

Commodities traded on COMEX include platinum, propane, crude oil, copper, aluminium and natural gas.

The prices quoted on the NYMEX are the basis for the prices people pay throughout the world. NYMEX is regulated by an independent agency of the U.S. government, the Commodity Futures Trading Commission, and every individual company that trades must send their own independent broker. It is then the job of the exchange employees to record the transaction, while having no part in the actual trade.