Commodity Exchange Inc.

Commodity Exchange Inc., commonly known as COMEX is involved in trading gold futures. The commodity exchange has the highest trade volume as compared to other exchanges taken together. The write up below unwinds certain facts about this commodity exchange or COMEX.

Merger with New York Mercantile Exchange:
COMEX serves as a commodity trading platform for metals like aluminum, gold, silver and copper. There was a merger with New York Mercantile Exchange in the year 1994. Owing to this merger the exchange has grown in trading activities.

Lifting restriction of holding gold:
Commodity Exchange Inc was established in the year 1933 in New York. Once the contract in gold futures was introduced, the Commodity Exchange Inc earned the reputation of being the leader in gold futures and options.
The contract pertaining to gold futures was introduced in 1974 in the month of December. Prior to 1974, the Federal government had prevented the Americans from holding gold.
It was after the contract in gold futures started trading in the commodity market that the Federal government lifted this restriction and the Americans were allowed to hold gold. This restriction was lifted roughly after a span of 40 years. Gold futures options were introduced in the year 1982. Silver is also traded in the Commodity Exchange Inc or COMEX.
COMEX has global participation:
The trade volume of the metals, which trade on this exchange is more than what it would have been had the volume of trading metals been put together.
Liquidity leads to success:
One of the attributable factors for its success may be regarded as its liquidity. The Commodity Exchange Inc or COMEX has global participation and traders belonging to places like Eastern parts of Asia, Europe and Middle East trade on this exchange for valuable metals.
Facts about Commodity Exchange Inc. Options:
A trader is given the right to sell(put) or right to buy(call) contracts pertaining to gold futures as per a quoted price. However, the price is valid so long as the expiration date has not been achieved. 100 ounces of gold forms the basis of the contract.
Facts about Commodity Exchange Inc. Futures:
In case of gold futures too, the basis of the contract is 100 ounces of gold. Future trading of gold was first introduced in the year 1974.

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Last Updated on : 27th June 2013

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