Commodity markets are markets where raw or primary products are exchanged. In Economics, a financial market is a mechanism that allows people to easily buy and sell ( Trade) financial Securities (such as stocks and bonds The bond market (also known as the debt, credit, or fixed income market) is a Financial market where participants buy and sell Debt Fixed income refers to any type of Investment that yields a regular (or fixed return A Corporate Bond is a bond issued by a Corporation. The term is usually applied to longer-term debt instruments generally with a maturity date falling at least a A government bond is a bond issued by a national government denominated in the country's own Currency. In the United States, a municipal bond (or muni) is a bond issued by a city or other local government or their agencies Bond valuation is the process of determining the Fair price of a bond. In Finance, a high yield bond ( non-investment grade bond, speculative grade bond or junk bond) is a bond that is rated below A stock market, or (equity market is a private or public market for the trading of company Stock and derivatives of company Software for Fixed assets management and Stock control developed in 2004. Preferred stock, also called preferred shares or preference shares, is typically a higher ranking stock than Voting shares, and its terms are negotiated A voting share (also called common stock or ordinary share) is a share of Stock giving the Stockholder the right to vote on matters A Registered share is a Stock that is registered on the name of the exact owner A voting share (also called common stock or ordinary share) is a share of Stock giving the Stockholder the right to vote on matters A stock exchange, share market or bourse is a Corporation or Mutual organization which provides "trading" facilities for Stock The foreign exchange ( currency or forex or FX) market refers to the market for currencies. The derivatives markets are the Financial markets for derivatives The market can be divided into two that for exchange traded derivatives and that for In Finance, a credit derivative is a derivative whose value derives from the Credit risk on an underlying bond loan or other financial asset '"Hybrid securities"' often referred as "hybrids" are a broad group of securities that combine the elements of the two broader groups of securities Debt and Options are financial instruments that convey the right but not the obligation to engage in a future transaction on some Underlying security, or in a Futures In Finance, a futures contract is a standardized Contract, traded on a Futures exchange, to buy or sell a certain Underlying instrument A forward contract is an agreement between two parties to buy or sell an asset at a specified point of time in the future For the Thoroughbred horse racing champion see Swaps (horse. In finance a swap is a derivative in which two counterparties Commodity markets are markets where raw or primary products are exchanged In Finance, the money market is the global Financial market for short-term borrowing and lending Over-the-counter ( OTC) trading is to Trade Financial instruments such as Stocks bonds, commodities or derivatives Real estate is a legal term (in some jurisdictions notably in the USA, United Kingdom The spot market or cash market is a Commodities or Securities market in which goods are sold for Cash and delivered immediately The field of finance refers to the concepts of Time, Money and Risk and how they are interrelated In Economics, a financial market is a mechanism that allows people to easily buy and sell ( Trade) financial Securities (such as stocks and bonds There are two basic financial market participant categories Investor vs Corporate finance is an area of Finance dealing with the financial decisions Corporations make and the tools and analysis used to make these decisions Personal finance is the application of the principles of Finance to the monetary decisions of an individual or family unit Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money Financial regulations are a form of Regulation or supervision which subjects Financial institutions to certain requirements restrictions and guidelines aiming to The Chicago Board of Trade ( CBOT) established in 1848 is the world's oldest futures and options exchange. These raw commodities are traded on regulated commodities exchanges, in which they are bought and sold in standardized contracts. A commodities exchange is an Exchange where various Commodities and derivatives products are traded
This article focuses on the history and current debates regarding global commodity markets. A commodity is anything for which there is demand but which is supplied without qualitative differentiation across a market It covers physical product (food, metals, electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Articles on reinsurance markets, stock markets, bond markets and currency markets cover those concerns separately and in more depth. A stock market, or (equity market is a private or public market for the trading of company Stock and derivatives of company The bond market (also known as the debt, credit, or fixed income market) is a Financial market where participants buy and sell Debt The foreign exchange ( currency or forex or FX) market refers to the market for currencies. One focus of this article is the relationship between simple commodity money and the more complex instruments offered in the commodity markets. Commodity money is Money whose value comes from a Commodity out of which it is made
See List of traded commodities for some commodities and their trading units and places. Agricultural (Grains and Food and Fiber Livestock & Meat Energy Precious metals Industrial metals Rare A commodity is anything for which there is demand but which is supplied without qualitative differentiation across a market Trade is the willing exchange of goods, services, or both Trade is also called Commerce.
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History
The modern commodity markets have their roots in the trading of agricultural products. While wheat and corn, cattle and pigs, were widely traded using standard instruments in the 19th century in the United States, other basic foodstuffs such as soybeans were only added quite recently in most markets. For a commodity market to be established, there must be very broad consensus on the variations in the product that make it acceptable for one purpose or another.
The economic impact of the development of commodity markets is hard to over-estimate. Through the 19th century "the exchanges became effective spokesmen for, and innovators of, improvements in transportation, warehousing, and financing, which paved the way to expanded interstate and international trade. "
Early history of commodity markets
Historically, dating from ancient Sumerian use of sheep or goats, or other peoples using pigs, rare seashells, or other items as commodity money, people have sought ways to standardize and trade contracts in the delivery of such items, to render trade itself more smooth and predictable. Commodity money is Money whose value comes from a Commodity out of which it is made
Commodity money and commodity markets in a crude early form are believed to have originated in Sumer where small baked clay tokens in the shape of sheep or goats were used in trade. Commodity money is Money whose value comes from a Commodity out of which it is made Sumer ( Sumerian: sux-Latn [[Ki (earth ki]]-[[EN (cuneiform en]]-'''ĝir15''', Akkadian: Šumeru; possibly Biblical Shinar Sealed in clay vessels with a certain number of such tokens, with that number written on the outside, they represented a promise to deliver that number. This made them a form of commodity money - more than an "I.O.U." but less than a guarantee by a nation-state or bank. Commodity money is Money whose value comes from a Commodity out of which it is made However, they were also known to contain promises of time and date of delivery - this made them like a modern futures contract. In Finance, a futures contract is a standardized Contract, traded on a Futures exchange, to buy or sell a certain Underlying instrument Regardless of the details, it was only possible to verify the number of tokens inside by shaking the vessel or by breaking it, at which point the number or terms written on the outside became subject to doubt. Eventually the tokens disappeared, but the contracts remained on flat tablets. This represented the first system of commodity accounting. Accountancy or accounting is the measurement statement or provision of assurance about financial information primarily used by Lenders managers,
However, the Commodity status of living things is always subject to doubt - it was hard to validate the health or existence of sheep or goats. Excuses for non-delivery were not unknown, and there are recovered Sumerian letters that complain of sickly goats, sheep that had already been fleeced, etc.
If a seller's reputation was good, individual "backers" or "bankers" could decide to take the risk of "clearing" a trade. The observation that trust is always required between market participants later led to credit money. Credit money is any future claim against a physical or legal person that can be used for the purchase of goods and services But until relatively modern times, communication and credit were primitive.
Classical civilizations built complex global markets trading gold or silver for spices, cloth, wood and weapons, most of which had standards of quality and timeliness. Considering the many hazards of climate, piracy, theft and abuse of military fiat by rulers of kingdoms along the trade routes, it was a major focus of these civilizations to keep markets open and trading in these scarce commodities. Military fiat is a process whereby a decision is made and enforced by Military means without the participation of other political elements Reputation and clearing became central concerns, and the states which could handle them most effectively became very powerful empires, trusted by many peoples to manage and mediate trade and commerce.
Investment Returns
This is a much-debated topic amongst academia. It is generally agreed that commodities have an expected return of 5% in real terms which is based on the risk premium for 116 different commodities weighted equally since 1888 (Source Report 219171-Wharton Business School). It is common for investment professionals to mistakenly claim there is no risk premium in commodites.
Spot trading
Spot trading is any transaction where delivery either takes place immediately, or if there is a minimum lag, due to technical constraints, between the trade and delivery. Commodities constitute the only spot markets which have existed nearly throughout the history of humankind.
Forward contracts
A forward contract is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined today. A forward contract is an agreement between two parties to buy or sell an asset at a specified point of time in the future The fixed price today is known as the forward price. The forward price or forward rate is the agreed upon price of an Asset in a Forward contract.
Futures contracts
A futures contract has the same general features as a forward contract but is transacted through a futures exchange.
Commodity and Futures contracts are based on what’s termed "Forward" Contracts. Early on these "forward" contracts (agreements to buy now, pay and deliver later) were used as a way of getting products from producer to the consumer. These typically were only for food and agricultural Products. Forward contracts have evolved and have been standardized into what we know today as futures contracts. Although more complex today, early “Forward” contracts for example, were used for rice in seventeenth century Japan. Modern "forward", or futures agreements, began in Chicago in the 1840s, with the appearance of the railroads. Chicago, being centrally located, emerged as the hub between Midwestern farmers and producers and the east coast consumer population centers.
Hedging
"Hedging", a common (and sometimes mandatory) practice of farming cooperatives, insures against a poor harvest by purchasing futures contracts in the same commodity. In Finance, a hedge is an investment that is taken out specifically to reduce or cancel out the Risk in another investment In Finance, a futures contract is a standardized Contract, traded on a Futures exchange, to buy or sell a certain Underlying instrument If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions.
Whole developing nations may be especially vulnerable, and even their currency tends to be tied to the price of those particular commodity items until it manages to be a fully developed nation. Developing countries are countries that haven't reached Western-style standards of democratic government free market economy industrialization social programs and human rights guaranties The term developed country, or advanced country, is used to categorize countries with developed Economies in which the tertiary and quaternary sectors For example, one could see the nominally fiat money of Cuba as being tied to sugar prices, since a lack of hard currency paying for sugar means less foreign goods per peso in Cuba itself. The terms fiat currency and fiat money relate to types of currency or Money whose usefulness results not from any intrinsic value or guarantee that it can be Sugar is a class of edible Crystalline substances mainly Sucrose, Lactose, and Fructose. In effect, Cuba needs a hedge against a drop in sugar prices, if it wishes to maintain a stable quality of life for its citizens.
Delivery and condition guarantees
In addition, delivery day, method of settlement and delivery point must all be specified. In a postal System, a delivery point (sometimes DP) is a single mailbox or other place at which Mail is delivered Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point.
Standardization
U. S. soybean futures, for example, are of standard grade if they are "GMO or a mixture of GMO and Non-GMO No. 2 yellow soybeans of Indiana, Ohio and Michigan origin produced in the U. S. A. (Non-screened, stored in silo)," and of deliverable grade if they are "GMO or a mixture of GMO and Non-GMO No. 2 yellow soybeans of Iowa, Illinois and Wisconsin origin produced in the U. S. A. (Non-screened, stored in silo). " Note the distinction between states, and the need to clearly mention their status as "GMO" ("Genetically Modified Organism") which makes them unacceptable to most "organic" food buyers. This article is about organisms which have been genetically modified Organic farming is a form of agriculture that relies on Crop rotation, Green manure, Compost, Biological pest control, and mechanical Cultivation
Similar specifications apply for cotton, orange juice, cocoa, sugar, wheat, corn, barley, pork bellies, milk, feedstuffs, fruits, vegetables, other grains, other beans, hay, other livestock, meats, poultry, eggs, or any other commodity which is so traded. The pork belly is the underside of the pig from which Bacon is made in the United States (in other parts of the world bacon is more often made from back and side meats and
The concept of an interchangeable deliverable or guaranteed delivery is always to some degree a fiction. Trade in commodities is like trade in any other physical product or service. No magic of the commodity contract itself makes "units" of the product totally uniform nor gets it to the delivery point safely and on time.
Regulation of commodity markets
Cotton, kilowatt-hours of electricity, board feet of wood, long distance minutes, royalty payments due on artists' works, and other products and services have been traded on markets of varying scale, with varying degrees of success. One issue that presents major difficulty for creators of such instruments is the liability accruing to the purchaser:
Unless the product or service can be guaranteed or insured to be free of liability based on where it came from and how it got to market, e. g. kilowatts must come to market free from legitimate claims for smog death from coal burning plants, wood must be free from claims that it comes from protected forests, royalty payments must be free of claims of plagiarism or piracy, it becomes impossible for sellers to guarantee a uniform delivery.
Generally, governments must provide a common regulatory or insurance standard and some release of liability, or at least a backing of the insurers, before a commodity market can begin trading. This is a major source of controversy in for instance the energy market, where desirability of different kinds of power generation varies drastically. In some markets, e. g. Toronto, Canada, surveys established that customers would pay 10-15% more for energy that was not from coal or nuclear, but strictly from renewable sources such as wind.
In the United States, the principal regulator of commodity and futures markets is the Commodity Futures Trading Commission. The Commodity Futures Trading Commission (CFTC is an Independent agency of the United States Government.
Proliferation of contracts, terms, and derivatives
However, if there are two or more standards of risk or quality, as there seem to be for electricity or soybeans, it is relatively easy to establish two different contracts to trade in the more and less desirable deliverable separately. If the consumer acceptance and liability problems can be solved, the product can be made interchangeable, and trading in such units can begin.
Since the detailed concerns of industrial and consumer markets vary widely, so do the contracts, and "grades" tend to vary significantly from country to country. A proliferation of contract units, terms, and futures contracts have evolved, combined into an extremely sophisticated range of financial instruments. Financial instruments are cash evidence of an ownership interest in an entity or a contractual right to receive or deliver cash or another financial instrument
These are more than one-to-one representations of units of a given type of commodity, and represent more than simple futures contracts for future deliveries. These serve a variety of purposes from simple gambling to price insurance.
The underlying of futures contracts are no longer restricted to commodities. In finance the underlying of a derivative is an Asset, basket of assets, index, or even another derivative such that the cash flows of the A commodity is anything for which there is demand but which is supplied without qualitative differentiation across a market
Oil
Building on the infrastructure and credit and settlement networks established for food and precious metals, many such markets have proliferated drastically in the late 20th century. Precious Metal is the eighteenth episode in the of the popular American Crime drama, which is set in Las Vegas, Nevada. Oil was the first form of energy so widely traded, and the fluctuations in the oil markets are of particular political interest.
Some commodity market speculation is directly related to the stability of certain states, e. g. during the Persian Gulf War, speculation on the survival of the regime of Saddam Hussein in Iraq. Saddam Hussein Abd al-Majid al-Tikriti ( Arabic: ar صدام حسين عبد المجيد التكريتي --> April 28 1937 &ndash December 30 For a topic outline on this subject see List of basic Iraq topics. Similar political stability concerns have from time to time driven the price of oil. Petroleum ( L petroleum, from Greek πετρέλαιον, lit Some argue that this is not so much a commodity market but more of an assassination market speculating on the survival (or not) of Saddam or other leaders whose personal decisions may cause oil supply to fluctuate by military action. An assassination market is a Prediction market or Dead pool where any party can place a bet (using anonymous Electronic money, and Pseudonymous remailers
The oil market is an exception. Most markets are not so tied to the politics of volatile regions - even natural gas tends to be more stable, as it is not traded across oceans by tanker as extensively.
Commodity markets and protectionism
Developing countries (democratic or not) have been moved to harden their currencies, accept IMF rules, join the WTO, and submit to a broad regime of reforms that amount to a "hedge" against being isolated. Developing countries are countries that haven't reached Western-style standards of democratic government free market economy industrialization social programs and human rights guaranties The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic China's entry into the WTO signalled the end of truly isolated nations entirely managing their own currency and affairs. The need for stable currency and predictable clearing and rules-based handling of trade disputes, has led to a global trade hegemony - many nations "hedging" on a global scale against each other's anticipated "protectionism", were they to fail to join the WTO. For the protectionist Australian political party from the 1880s to 1909 see Protectionist Party
There are signs, however, that this regime is far from perfect. U. S. trade sanctions against Canadian softwood lumber (within NAFTA) and foreign steel (except for NAFTA partners Canada and Mexico) in 2002 signalled a shift in policy towards a tougher regime perhaps more driven by political concerns - jobs, industrial policy, even sustainable forestry and logging practices.
Non-conventional commodities
Nature's commodity outputs
Commodity thinking is undergoing a more direct revival thanks to the theorists of "natural capital" whose products, some economists argue, are the only genuine commodities - air, water, and calories we consume being mostly interchangeable when they are free of pollution or disease. Natural capital is the extension of the economic notion of capital (manufactured means of production to environmental goods and services Whether we wish to think of these things as tradeable commodities rather than birthrights has been a major source of controversy in many nations.
Most types of environmental economics consider the shift to measuring them inevitable, arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect "natural capital" itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of ecoregions, societies, and individuals. Environmental economics is a subfield of Economics concerned with environmental issues Political economy originally was the term for studying production buying and selling and their relations with law custom and government Military fiat is a process whereby a decision is made and enforced by Military means without the participation of other political elements Natural capital is the extension of the economic notion of capital (manufactured means of production to environmental goods and services Biodiversity is the variation of Life forms within a given Ecosystem, Biome or for the entire Earth. An ecoregion ( ecological region) sometimes called a bioregion, is an ecologically and geographically defined area smaller than a "realm" or " They seek relatively conservative sustainable development schemes that would be amenable to measuring well-being over long periods of time, typically "seven generations", in line with Native American thought. Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present Quality of life is the degree of well-being felt by an individual or group of people
Weather trading
However, this is not the only way in which commodity thinking interacts with ecologists' thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but also into a system of indirectly trading on the actual damage done by weather, using weather derivatives. Weather derivatives are Financial instruments that can be used by organizations or individuals as part of a Risk management strategy to reduce risk associated with For a price, this relieves the purchaser of the following types of concerns:
"Will a freeze hurt the Brazilian coffee crop? Will there be a drought in the U. |utc_offset = -2 to -4 |time_zone_DST = BRST |utc_offset_DST = -2 to -5 |cctld CoFFEE is an Open source Software for computer supported collaborative learning (CSCL in a digital classroom S. Corn Belt? What are the chances that we will have a cold winter, driving natural gas prices higher and creating havoc in Florida orange areas? What is the status of El Niño?"
Emissions trading
Weather trading is just one example of "negative commodities", units of which represent harm rather than good. Grain Belt The Grain Belt is an informal name for a United States region composed of the Prairie -region states across the northern Midwest Natural gas is a Gaseous Fossil fuel consisting primarily of Methane but including significant quantities of Ethane, Propane, El Niño-Southern Oscillation ( ENSO; commonly referred to as simply El Niño) is a global coupled ocean-atmosphere phenomenon
"Economy is three fifths of ecology" argues Mike Nickerson, one of many economic theorists who holds that nature's productive services and waste disposal services are poorly accounted for. The Green Party of Canada ran a full slate of 308 candidates in the 2006 Canadian federal election. One way to fairly allocate the waste disposal capacity of nature is "cap and trade" market structure that is used to trade toxic emissions rights in the United States, e. Emissions trading (or emission trading) is an administrative approach used to control Pollution by providing economic Incentives for g. SO2. This is in effect a "negative commodity", a right to throw something away.
In this market, the atmosphere's capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that "grandfathering" schemes often permit major polluters, such as the state governments' own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death.
In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. The Kyoto Protocol is a protocol to the international Framework Convention on Climate Change with the objective of reducing Greenhouse gases in an effort S. support.
Community as commodity?
This highlights one of the major issues with global commodity markets of either the positive or negative kind. A community must somehow believe that the commodity instrument is real, enforceable, and well worth paying for.
A very substantial part of the anti-globalization movement opposes the commodification of currency, national sovereignty, and traditional cultures. " Anti-globalization " is a term that encompasses a number of related ideas The capacity to repay debt, as in the current global credit money regime anchored by the Bank for International Settlements, does not in their view correspond to measurable benefits to human well-being worldwide. Credit money is any future claim against a physical or legal person that can be used for the purchase of goods and services The Bank for International Settlements (or BIS) is an International organization of Central banks which "fosters international monetary and Quality of life is the degree of well-being felt by an individual or group of people They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources, nor human capital to move to developed nations in order to find work. Natural capital is the extension of the economic notion of capital (manufactured means of production to environmental goods and services Natural resources are naturally occurring substances that are considered valuable in their relatively unmodified ( natural) form Human capital refers to the stock of skills and knowledge embodied in the ability to perform labor so as to produce Economic value. The term developed country, or advanced country, is used to categorize countries with developed Economies in which the tertiary and quaternary sectors
Some economic systems by green economists would replace the "gold standard" with a "biodiversity standard". Ecological economics is a Transdisciplinary field of academic research within Economics that aims to address the interdependence between human economies and natural The gold standard is a monetary system in which a region's common media of exchange are paper notes that are normally freely convertible into pre-set fixed quantities of Gold It remains to be seen if such plans have any merit other than as political ways to draw attention to the way capitalism itself interacts with life. Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where
Is human life a commodity?
While classical, neoclassical, and Marxist approaches to economics tend to treat labor differently, they are united in treating nature as a resource. Economics is the social science that studies the production distribution, and consumption of goods and services.
The green economists and the more conservative environmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. Ecological economics is a Transdisciplinary field of academic research within Economics that aims to address the interdependence between human economies and natural Environmental economics is a subfield of Economics concerned with environmental issues A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world "15x higher" than in the developing world, based solely on the ability to pay to prevent climate change.
Is free time a commodity?
Accepting this result, some argue that to put a price on both is the most reasonable way to proceed to optimize and increase that value relative to other goods or services. This has led to efforts in measuring well-being, to assign a commercial "value of life", and to the theory of Natural Capitalism - fusions of green and neoclassical approaches - which focus predictably on energy and material efficiency, i. Quality of life is the degree of well-being felt by an individual or group of people The value of life (or price of life) is an Economic or Moral value assigned to Life in general or to specific living organisms Natural Capitalism Creating the Next Industrial Revolution is a 1999 book co-authored by Paul Hawken, Amory Lovins and Hunter Lovins. e. using far less of any given commodity input to achieve the same service outputs as a result.
Indian economist Amartya Sen, applying this thinking to human freedom itself, argued in his 1999 book "Development as Freedom" that human free time was the only real service, and that sustainable development was best defined as freeing human time. Amartya Kumar Sen CH (Hon (অমর্ত্য কুমার সেন Ômorto Kumar Shen) (born 3 November 1933) is an Indian Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present Sen won the Nobel Prize in Economics in 1999 and based his book on invited lectures he gave at the World Bank. The Nobel Memorial Prize in Economic Sciences, officially named The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Sveriges riksbanks pris i ekonomisk Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e
See also
- Commodities exchange
- Currency market
- Stock market
- Bond market
- Futures exchange
- Commodity money
- Futures contract
- Hedging
- Commodity
- Spread trade
- List of traded commodities
- Trader (finance)
- Paper trading
Commodity Exchanges
- Brazilian Mercantile and Futures Exchange
- Chicago Board of Trade
- Chicago Mercantile Exchange
- Euronext.liffe
- Intercontinental Exchange
- Dalian Commodity Exchange
- Kansas City Board of Trade
- London Metal Exchange
- Minneapolis Grain Exchange
- Multi Commodity Exchange
- National Food Exchange
- New York Mercantile Exchange
- New York Board of Trade
- Rosario Board of Trade
- Winnipeg Commodity Exchange
- Steelbay
Supervising Commission
References
A commodities exchange is an Exchange where various Commodities and derivatives products are traded The foreign exchange ( currency or forex or FX) market refers to the market for currencies. A stock market, or (equity market is a private or public market for the trading of company Stock and derivatives of company The bond market (also known as the debt, credit, or fixed income market) is a Financial market where participants buy and sell Debt A futures exchange is a central financial exchange where people can trade standardized Futures contracts; that is a contract to buy specific quantities of a Commodity Commodity money is Money whose value comes from a Commodity out of which it is made In Finance, a futures contract is a standardized Contract, traded on a Futures exchange, to buy or sell a certain Underlying instrument In Finance, a hedge is an investment that is taken out specifically to reduce or cancel out the Risk in another investment A commodity is anything for which there is demand but which is supplied without qualitative differentiation across a market In finance a spread trade refers to the act of buying one security or Futures contract and selling another related one in an attempt to profit from the change in Agricultural (Grains and Food and Fiber Livestock & Meat Energy Precious metals Industrial metals Rare In Finance, a trader is someone who buys and sells Financial instruments such as stocks, bonds and derivatives. See also Stock market simulator Paper trading (sometimes also called "virtual stock trading" is a simulated trading process in which would-be investors The Chicago Board of Trade ( CBOT) established in 1848 is the world's oldest futures and options exchange. Euronext NV is a pan- European Stock exchange based in Paris and with subsidiaries in Belgium, France, Netherlands IntercontinentalExchange ( is an American financial company that operates Internet-based marketplaces which trade futures and over-the-counter The Dalian Commodity Exchange ( DCE)(is a Chinese futures exchange based in Dalian. The Kansas City Board of Trade (KCBT located at 4800 Main Street in Kansas City Missouri, is a Commodity futures and options exchange regulated The London Metal Exchange or LME is the Futures exchange with the world's largest market in options and Futures contracts on base and The Minneapolis Grain Exchange (MGEX was formed in 1881 as a cash market for Grains. Multi Commodity Exchange ( MCX) is an independent Commodity exchange based in India. The New York Mercantile Exchange (NYMEX is the World 's largest physical Commodity Futures exchange, located in New York City. The New York Board of Trade (NYBOT is a wholly-owned subsidiary of IntercontinentalExchange (ICE The Rosario Board of Trade ( Bolsa de Comercio de Rosario, BCR) is a non-profit making association based in Rosario, in the Province of Santa The Winnipeg Commodity Exchange is the former name of a Derivatives market based in Winnipeg Manitoba, Canada now known as ICE Futures Canada Steelbay GmbH is the company that runs steelbaynet an online marketplace for steel products The Commodity Futures Trading Commission (CFTC is an Independent agency of the United States Government.Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic