Definition
The term COMEX refers to a market where buyers and sellers can negotiate and enter into commodity futures contracts involving metals. COMEX was originally acquired by the NYMEX, which is part of CME Group.
Explanation
Originally known as the Commodity Exchange, Inc., the COMEX is a commodity futures exchange that merged with the New York Mercantile Exchange in 1994. Now part of the CME Group, COMEX is the primary futures market for the trading of commodities such as base metals and precious metals. The COMEX facilitates transactions involving the electronic trading of commodities such as:
Base metals, including alumina, aluminum, aluminum alloys, and copper
Precious metals, including silver, gold, and platinum
Trading of bilateral agreements occurs 24 hours a day, except during maintenance windows which typically occur during weekdays from around 6:05 p.m. through 6:55 p.m. Eastern Time and weekends from Friday at 6:05 p.m. through Sunday 5:00 p.m. Eastern Time.
Related Terms
- The term New York Mercantile Exchange refers to a market where buyers and sellers can negotiate and enter into commodity futures contracts. NYMEX is located in Battery Park, which is a section of Manhattan.
Moneyzine EditorNovember 6th, 2024 
The term Intercontinental Exchange refers to a market where buyers and sellers can negotiate and enter into futures contracts. ICE operates over twenty regulated exchanges and marketplaces throughout the world.Moneyzine EditorNovember 6th, 2024
The term Chicago Board of Trade refers to a market where buyers and sellers can negotiate and enter into forward contracts. The Chicago Board of Trade is one of the world's premier futures and options exchanges.Moneyzine EditorNovember 6th, 2024
