New York Cotton Exchange

The New York Cotton Exchange (NYCE) was a commodities exchange founded in 1870 by a group of one hundred cotton brokers and merchants at 1 Hanover Square (later known as India House) in New York City.<!--- Source of "100 members"? Please list the names of the 100 members if possible---->

History

The cotton exchange is the oldest commodities exchange in the city. Well into the 20th century, cotton was a leading American commodity for both export and domestic consumption. In that era, other major exchanges existed in the United States. Several were founded within a few years of the founding of New York Cotton Exchange: the New Orleans Cotton Exchange, the Mobile Cotton Exchange, the Memphis Cotton Exchange, and the Savannah Cotton Exchange. Another important exchange was the Liverpool Cotton Exchange in Liverpool, England. The NYCE and the Memphis Cotton Exchange are the only organizations of that group still active today.

Annually until 1958, the NYCE published the Cotton Year Book, which contained the year's statistics on the cotton industry. Over the years, the NYCE created various subsidiaries to trade non-cotton contracts, including the Wool Associates, the Citrus Associates, the Tomato Products Associates, and the Financial Instruments Exchange (FINEX). In 1998, the New York Board of Trade (NYBOT) became the parent company of both the New York Cotton Exchange and the Coffee, Sugar and Cocoa Exchange (founded 1882).

The New York Cotton Exchange was a...
Read More