Floor Based Exchanges

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Floor based exchanges.

This is a historic problem for exchanges which has persisted since their inception as floor based marketplaces and continued as they moved to electronic trading. However a few exchanges still have physical traders on the floor or located at the exchange. The company s two principal divisions are the new york mercantile exchange and commodity exchange inc comex once separately owned exchanges. Increasingly though the human floor trader is becoming a relic of the past as exchanges go virtual and traders handle business through impersonal computer terminals and phones.

This is a historic problem for exchanges that persisted since their inception as floor based marketplaces and are still present even after legacy platforms moved over to electronic trading. The new york mercantile exchange nymex is a commodity futures exchange owned and operated by cme group of chicago nymex is located at one north end avenue in brookfield place in the battery park city section of manhattan new york city. Is a member of the investment industry regulatory organization of canada iiroc and member canadian. One example is the london metal exchange which still trades parts of the session in a ring which is synonymous with a pit.

The nyse bought the electronic trading platform archipelago as it moves increasingly toward electronic trading. Derivatives exchanges such as the cme group maintain both old style pits and electronic trading. The intercontinental exchange ice is an american company that runs purely electronic based futures exchanges all over the world. Is a member nyse finra sipc and regulated by the us securities and exchange commission and the commodity futures trading commission.

The nyse uses a floor based auction system to execute some of its trades which means that intermediaries on the bustling floor determine the price of the stocks. Brazil s bm f maintained both until 2009. The floor where trading activities are conducted. It started as an energy futures exchange but has grown to include other commodities equity index and foreign exchange futures.

Many others as they phase out floor trading offer both floor and electronic trading. Exchanges can also use an.