NEW YORK (HedgeWorld.com) — The New York Board of Trade, hard hit by the loss of its trading floor and some of its members in the World Trade Center disaster, plans to sign a lease agreement tomorrow with the New York Mercantile Exchange.
The two exchanges will share NYMEX’s space in the World Financial Center, an arrangement they have been negotiating since last year. The lease signing ceremony is to be attended by Mayor Michael Bloomberg, Governor George Pataki and other government officials.
Since it was displaced, NYBOT has had to make do with fewer trading pits at a small back-up facility in Long Island.
In the past several months, however, the exchange has been handling record levels of certain contracts and options, despite the cramped quarters. It deals with a variety of agricultural, currency and index products, including futures and options for cocoa, coffee, cotton, orange juice, sugar and currencies, as well as equity, currency and commodity indexes.
