The New York Board of Trade
The New York Board of Trade® (NYBOT®) provides the world’s premiere futures and options markets for several internationally traded agricultural commodities: cocoa, coffee, cotton, frozen concentrated orange juice (FCOJ) and sugar. For well over a century, representatives of these primary commodity industries have joined traders and investors in the New York Board of Trade (NYBOT) markets to engage in price discovery, price risk transfer and price dissemination for these products. New York’s original futures exchange also provides futures and options markets for currency cross rates, as well as for the Russell Equity Indexes, NYSE Commodity Index®, Reuters Jefferies CRB Index, and the US Dollar Index® (USDX®), along with new markets for Ethanol and Pulp.
This history began with the founding of the New York Cotton Exchange (NYCE®) in 1870 (cotton futures), followed by the Coffee Exchange of the City of New York in 1882 (coffee futures).
The Coffee Exchange added sugar futures in 1914 and became the Coffee and Sugar Exchange in 1916.
The New York Cocoa Exchange began operations in 1925 and merged with the Coffee and Sugar Exchange in 1979 to form the Coffee, Sugar & Cocoa Exchange, Inc. (CSCE).
The New York Cotton Exchange (NYCE) began trading Frozen Concentrated Orange Juice futures in 1966.
Options on agricultural futures were first added in 1982 (on sugar futures).
In 1985 the NYCE began trading currency futures on its FINEX division.
In 1994, NYCE opened a trading floor in Dublin for FINEX and added a number of currency cross rate futures contracts. Stock and commodity index futures also began trading the same year.
The CSCE and NYCE formed the Board of Trade of the City of New York, Inc. as a parent company in 1998, a merger process completed in June 2004 when the two exchanges became the New York Board of Trade (NYBOT).
September 11, 2001, was a difficult and defining moment for the NYBOT exchanges when the destruction of the World Trade Center forced NYBOT to re-locate to its back up facility in Long Island City and remain there for two years. In 2003, NYBOT moved into a new state-of-the-art facility in the World Financial Center. With that return, the New York Board of Trade continued its long history in Lower Manhattan of providing effective risk management tools for major international industries and opportunities for well-informed investors.
