Definitions for "NEW YORK MERCANTILE EXCHANGE"
Keywords:  nymex, comex, outcry, crude, propane
Abbreviation: NYMEX. US futures exchange on which the Oil Complex (Crude Oil, Heating Oil, etc), platinum, palladium & CRB Index are traded among others.
US futures exchange, consisting of two divisions: the Nymex Division and the Comex Division. The Exchange offers trading for energy futures and options in crude oil, heating oil, gasoline, natural gas and electricity as well as propane futures, and options on the crude oil/gasoline and crude oil/heating oil crack spreads. Precious and base metals are also traded.
The largest physical commodity exchange in the world. Futures contracts are traded on the Exchange in an anonymous, open, and competitive auction, based on open outcry. The exchange acts as the counterparty on every trade, clearing (matching) orders amongst the members. The Exchange's platinum contract is the longest continuously traded precious metals contract in the world's marketplace, first traded in 1956.