New York Board of Trade

From MarketsWiki
Jump to: navigation, search
ICE wiki logo.jpg

New York Board of Trade
Founded 1870, acquired by ICE in 2007
Headquarters New York City
Key People See Intercontinental Exchange Inc.
Website www.theice.com

The New York Board of Trade, founded in 1870 as the New York Cotton Exchange, became a wholly owned subsidiary of Intercontinental Exchange (ICE) on January 12, 2007, making it part of a publicly traded corporation for the first time in its history. ICE bought the exchange for approximately $1 billion.[1] On September 3, 2007, NYBOT was renamed ICE Futures U.S. The primary futures and options contracts traded on ICE Futures U.S. 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 September 28, 2007, on its electronic trading platform.[2]

History

NYBOT took over the Coffee, Sugar and Cocoa Exchange in 1998 and began trading those products in addition to cotton.

The actual NYBOT exchange floor was featured in the 1983 movie Trading Places, in which two rich businessmen scheme to corner the market in frozen concentrated orange juice futures.[3]


References

  1. ICE buys NYBOT. Investment News.
  2. "NYBOT to Introduce New Robusta Futures and Options Contracts”. NYBOT.
  3. ICE to close New York trading floor. The Financial Times.