Like the COMEX, CBOT and CME, the New York Mercantile Exchange (NYMEX) is part of the CME Group, which today forms the largest derivatives market. NYMEX is one of the largest physical commodity futures exchanges in the world. It offers a wide range of energy-related products, such as options and futures on refined products, electricity, petrochemicals, crude oil, emissions, biofuels, coal, freight, petrochemicals, timber and agricultural products, as well as natural gas. It also offers futures contracts on certain agricultural products such as coffee and cocoa. The history of the NYMEX can be traced back to 1872, when a predecessor to this exchange was created by dairy merchants, the Butter and Cheese Exchange of New York. In 1994, the NYMEX took a key step in its history by acquiring the Commodity Exchange (COMEX). This merger enabled it to integrate metals into its product range, consolidating its position as a complete commodities exchange. In 2008, NYMEX itself became a subsidiary of the CME Group. This merger between a derivatives exchange and a commodities exchange has created a robust and comprehensive commodities trading environment, offering a diverse range of derivative products. The NYMEX's core mission is to provide a regulated and transparent market for the trading of commodity futures and options.
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