web-banner-asia-920x320.jpg

Mike Dotts

The organization of futures exchanges standardized the freely traded forward contracts. They set the quality, quantity, and delivery points of every contract. This made it easier for the hedgers to determine the value of their products and agreements.

Over the past 100 years, U.S. futures exchanges have merged and morphed. While there are regional futures exchanges and specialty futures exchanges, there are three dominant players in the United States.

The Chicago Board of Trade (CBOT) was established in 1848. It is one the world's oldest derivatives exchange. Forty-seven futures and options products trade on the CBOT. In 2001, trading volume exceeded 260 million contracts.

At the outset, the CBOT focused solely on agricultural futures; wheat, corn and oats dominated the landscape. Almost 130 years after the CBOT was formed, the lineup of products was finally expanded. Legislation allowed the CBOT to offer futures on financial instruments for the first time. Futures on U.S. Treasury bonds became the pioneering financial instrument. Today, U.S. Treasury bonds are one of the most actively traded futures around the world.

In 1982, options on futures contracts were finally allowed. Overnight, this changed the way futures were traded.

The CBOT stays on the cutting edge of the industry. It has introduced futures and futures options on the Dow Jones Industrial Average, and upgraded and added an electronic trading system to its infrastructure. This was a huge feat since trading had been done primarily with open outcry, where live traders buy and sell in the pits, for 150 years.

Chicago Mercantile Exchange

The Chicago Mercantile Exchange (CME) began in 1898 as the Chicago Butter and Egg Board. Like the CBOT, it offered only agricultural products. The CME finally ventured from basic agricultural products with the introduction of frozen pork belly futures in 1961. This was the first futures contract based on frozen meat. Continuing its pioneering efforts, the CME introduced live cattle futures in 1964. This was the first time futures were offered on a nonstorable commodity.

The CME launched currency futures in 1972; they were the world's first financial futures contracts. Prior to this, the CME traded only commodities such as corn, wheat, and pork bellies. This new development was in direct response to the breakdown of the Bretton Woods Agreement.

On May 16, 1972, seven forex currency futures contracts were listed. The contracts dealt in British pounds, Canadian dollars, German deutsche marks, French francs, Japanese yen, Mexican pesos, and Swiss francs.

The CME has an electronic trading platform that offers trading 24 hours a day, 5 days a week.

In April 2001, the CME expanded forex market coverage by offering electronic access to its full range of currency contracts virtually 24 hours a day via the Globex electronic trading platform. This electronic trading access occurs side by side with floor trading in CME's currency pits during floor trading hours.

In March 2003, the total notional value of forex trading at CME was US$347.5 billion. Currency futures are derivatives on the interbank cash and forward exchange rates.

In 2002, the CME became the first U.S. financial exchange to become publicly traded.

In 2007, the CME and the CBOT merged to form the largest derivatives exchange in the United States.

New York Board of Trade

The New York Board of Trade (NYBOT) didn't exist until 1998. It was born through the merger of the Coffee, Sugar, & Cocoa Exchange, Inc. and the New York Cotton Exchange.

The New York Cotton Exchange was founded in 1870 and the Coffee Sugar & Cocoa Exchange, Inc. was founded in 1882. These two pioneered sugar options, frozen concentrated orange juice, and the New York Stock Exchange Composite Index, as well as the Commodity Research Bureau Futures Price Index.

The NYBOT has opened the first full-time electronic market for U.S Treasury and agency futures. The NYBOT is a not-for-profit membership organization. It was established as the parent company for the two merged exchanges and their subsidiaries and divisions.

New York Mercantile Exchange

The New York Mercantile Exchange (NYMEX) began as the Butter and Cheese Exchange of New York. It was founded in 1872 by dairy merchants who wanted to bring order and standardization to their industry. By 1882, the product line had expanded and the group changed its name to the New York Mercantile Exchange.

Today, the NYMEX no longer deals with agricultural products. In 1978, the introduction of heating oil futures set the stage for NYMEX's dominance in the energy sector. It is also dominant in metal futures.

The exchange has two divisions, the NYMEX Division and the COMEX (commodity exchange) Division. The first focuses on energy, platinum, and palladium futures and options. The second handles gold, silver, copper, and aluminum.

What Markets Are Traded?

Futures contracts in the United States and in various other countries fall into six broad categories: agricultural, metallurgical, interest-bearing assets, indices, foreign currency, and security futures.

Foreign Exchange (Forex)

The forex market is a relatively new phenomenon. While we can trace futures and stock trading back over 100 years, forex trading history began just 30 years ago. What makes this market tremendously interesting is that it went from nothing to being the largest volume-traded industry in the world, with over US$1.5 trillion traded daily.

While the majority of forex traders know only about the spot forex side, forex began in the futures market. It has a robust spot, futures, and options trading environment. Each market interacts with each other and there are few, if any, real boundaries that affect how they react to the same supply and demand numbers.

What makes it unique is that the spot market for forex allows "speculators" to get involved with little to no investment. This is a function of the over-the-counter market which has changed the rules of what is required of investors and the proliferation of high speed internet connections that allow anyone to bring currency dealers right into their homes. How did this happen? Was it by design? Or was it by accident?

What Is the Spot Market?

Forex trading falls into three arenas: spot, futures, and options. The majority of new forex traders learn only about spot forex trading. While the spot market has some advantages, don't ignore the futures and options forex markets.

This schism between spot, futures, and option forex developed early on. Banks developed control of the spot forex market in what is known as the over-the-counter (OTC) market. They initially offered spot forex services as a way to provide added value services to their large multinational clients. In the beginning these spot transactions were considered essential for multinational corporations to operate quickly.

The banks also considered OTC forex to be a risk-free way of generating profits. Banks consider the spread between currency bids and ask as free money. Banks have always fought to make sure that foreign currency exchange was seen as an express power of banking, with no need for additional regulatory oversight. With such an aggressive stance by the banks, the OTC market's explosive growth was inevitable. http://www.forex.com
http://www.jennreviews.com/forex-precog
http://www.investopedia.com/university/forexmarket

Together, We Can Change Lives

Operation Smile mobilizes a world of generous hearts to heal children’s smiles and transform lives across the globe. Operation Smile’s network of volunteers works worldwide to repair childhood facial deformities including cleft lips and cleft palates.

I hope you'll help me bring hope and new smiles to children suffering from facial deformities.

Guest Book

If you would like, you can add your name and a short message to our Guest Book. Thank you.

Sign the Guest Book

Records 1 - 25 of 242

Alfredo
Wed, Nov 13, 2019
Thanks for sharing your awesome web page.
Feel free to surf to my web site bi-fold doors essex ( %url )

Nichole
Mon, Aug 19, 2019
Thanks extremely valuable. Will certainly share website with my friends.
Feel free to surf to my web blog ________ ( %url )

Williemae Budd
Mon, Jul 08, 2019
Wow, stunning website. Thnx ...
Also visit my web site ... family movers ( %url )

Bev Harrell
Thu, Jun 27, 2019
Wonderful site you've got in here.
My blog post emaar digi homes gurugram ( %url )

Liliana Thigpen
Fri, Jun 14, 2019
Incredible, this is a advantageous website.
my web site :: colombian sportswear ( %url )

Bonnie Boan
Tue, Apr 23, 2019
I enjoy this site - its so usefull and helpfull.
Take a look at my web page; Dc300a indoor Handheld ( %url )

Lilly Colburn
Thu, Apr 18, 2019
I delight in the data on your site. Regards!
my blog post: JDSU TP650 ( %url )

Suzanne Husk
Fri, Apr 12, 2019
Astonishingly individual friendly website. Immense details available on couple of clicks.
Feel free to visit my webpage: prowadzenie fanpage cena ( %url )

Ida Huntington
Sat, Mar 16, 2019
With thanks for sharing this excellent web page.
Also visit my web-site - minecraft ( %url )

Candace Langlands
Sat, Feb 23, 2019
Thanks, this site is really useful.
my blog post: International law firms in Nigeria ( %url )

Annett Kersey
Sat, Feb 02, 2019
Very good Web site, Stick to the very good work. Thank you so much!
Here is my page; dlafirm ( %url )

Juliana Timperley
Fri, Jan 18, 2019
You're an extremely beneficial website; could not make it without ya!
Have a look at my web page _______ ______ _ ______ ( %url )

Marjorie
Sat, Dec 29, 2018
Our investment administration service has been designed for those who'd desire to not have an energetic role in managing their investments.
Also visit my site; financial advisor starting salary ( %url )

Cyrus
Fri, Dec 28, 2018
They will not inform you about particular merchandise offered by named companies or what option would possibly suit you best.
Also visit my blog; no investment advice disclaimer ( %url )

Marcela
Fri, Dec 28, 2018
What to look for in monetary recommendation - Issues you must think about earlier than you act on an adviser's suggestions.
My web page ... financial advisor cost per hour ( %url )

Mariana Fritzsche
Fri, Dec 28, 2018
They may specialise in one space, for instance pensions, or they may only offer investment advice near me ( %url ) on products offered by a restricted number of firms.

Dong Tiffany
Fri, Dec 28, 2018
Speaking by way of your objectives - and your concerns - with an skilled, could make a tremendous distinction to your monetary life.
Also visit my site; financial advisor jobs utah ( %url )

Arden
Fri, Dec 28, 2018
FPA presents resources designed to assist people perceive the significance of financial advisor magazine ( %url ) planning and the worth of objective advice from a monetary planner.

Terrell
Wed, Dec 26, 2018
Wow, lovely site. Thnx ...
Feel free to surf to my web blog ... amber jewelry for sale ( %url )

Dillon
Tue, Dec 25, 2018
I benefit from looking through your websites. Cheers!
My homepage; Riverfront Residences ( %url )

Skye Dugger
Wed, Dec 19, 2018
Keep working ,terrific job!
Look at my site - expired Marketing ( %url )

Douglas
Mon, Dec 10, 2018
Great looking site. Presume you did a bunch of your very own coding.
Check out my weblog Maine Coon ( %url )

Jeff
Mon, Nov 26, 2018
I love the knowledge on your web site. Thanks a bunch.
my web site ... amber and silver jewelry ( %url )

Pauline
Thu, Nov 22, 2018
Love the website-- very individual pleasant and lots to see!
Feel free to visit my webpage; _______ _________ ( %url )

Romeo
Wed, Nov 21, 2018
Love the website-- extremely user friendly and lots to see!
Take a look at my webpage :: ______ _____ ( %url )

Records 1 - 25 of 242


If you think this page contains objectionable content, please inform the system administrator.

A gift made through this appeal represents a gift to the entire Operation Smile mission. To help the most children, we use your gift where it can do the most good by pooling it with the gifts of others.