New York Board of Trade

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The New York Board of Trade, founded in 1870 as the New York Cotton Exchange, on Jan. 12, 2007, became a wholly owned subsidiary of IntercontinentalExchange (ICE), making it part of a publicly traded corporation for the first time in its history. On Sept. 3, 2007, NYBOT was renamed ICE Futures U.S.

The primary futures and options contracts traded on ICE Futures Exchange are cocoa, coffee, cotton, orange juice and sugar.

Also in January 2007, the exchange began offering electronic trading of its benchmark products trading side-by-side with its open outcry markets.

NYBOT introduced Robusta Coffee Futures Options Contracts, Robusta Grade on Sept. 28, 2007, on its electronic trading platform.^[1]

News

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On Oct. 22, 2007, The New York Post web site posted a report that NYBOT was planning to officially shut down its futures pits in the next six months as electronic commodities trading takes over. (Note that the Post cited sources "familiar with the matter.") It could also eventually lead the downtown exchange to abandon its headquarters at the World Financial Center, according to the Post report.