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New York Coffee Exchange
The Coffee, Sugar and Cocoa Exchange (CSCE) was founded in 1882 as the Coffee Exchange in the City of New York. Sugar futures were added in 1914, and, on September 28, 1979, the New York Coffee and Sugar Exchange merged with the New York Cocoa Exchange (which in turn had been founded in 1925) to form CSCE. In 1998, CSCE merged with the New York Cotton Exchange as subsidiaries of the New York Board of Trade (NYBOT). The CSCE operates as an independent unit of NYBOT trading futures and options on coffee, sugar and cocoa and the S&P Commodity Index. Trading is by open outcry, from 8 a.m. to 2:45 p.m., Monday through Friday. In January 2007, NYBOT merged with IntercontinentalExchange (ICE) and became a wholly owned subsidiary of ICE. Key people At the end of April 1902, H. M. Humphreys resigned from his position as superintendent of the Coffee Exchange to become vice president of the newly formed Mutual Alliance Trust Company. Coffee broker Joseph J. O'Donohue was a founde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Exchange
A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividends. Securities traded on a stock exchange include stock issued by listed companies, unit trusts, derivatives, pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic trading platform. To be able to trade a security on a certain stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as modern markets use electronic communic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lehman Brothers
Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill (company), Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, Stock, equity, Bond (finance), fixed-income and Derivative (finance), derivatives sales and stock trading, trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008. On September 15, 2008, Lehman Brothers filed for Chapter 11, Title 11, United States Code, Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Exchanges In The United States
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, and gold. Other definitions of commodity include something useful or valued and an alternative term for an economic good or service avail ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Food And Drink Companies Based In New York City
Food is any substance consumed by an organism for nutritional support. Food is usually of plant, animal, or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is ingested by an organism and assimilated by the organism's cells to provide energy, maintain life, or stimulate growth. Different species of animals have different feeding behaviours that satisfy the needs of their unique metabolisms, often evolved to fill a specific ecological niche within specific geographical contexts. Omnivorous humans are highly adaptable and have adapted to obtain food in many different ecosystems. The majority of the food energy required is supplied by the industrial food industry, which produces food with intensive agriculture and distributes it through complex food processing and food distribution systems. This system of conventional agriculture relies heavily on fossil fuels, which means that the food and agricu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coffee Organizations
Coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, coffee has a stimulating effect on humans, primarily due to its caffeine content. It is the most popular hot drink in the world. Seeds of the ''Coffea'' plant's fruits are separated to produce unroasted green coffee beans. The beans are roasted and then ground into fine particles that are typically steeped in hot water before being filtered out, producing a cup of coffee. It is usually served hot, although chilled or iced coffee is common. Coffee can be prepared and presented in a variety of ways (e.g., espresso, French press, caffè latte, or already-brewed canned coffee). Sugar, sugar substitutes, milk, and cream are often used to mask the bitter taste or enhance the flavor. Though coffee is now a global commodity, it has a long history tied closely to food traditions around the Red Sea. The earliest credible evidence of coffee drinking in the form of the modern beverage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1882
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Coffee
The history of coffee dates back to centuries of old oral tradition in Africa. Coffee plants grew wild in Ethiopia and were widely used by nomadic tribes for thousands of years. Sufi monasteries in Yemen employed coffee as an aid to concentration during prayers. Roasting the seeds was not a way to serve coffee until the 1400s. /sup> During the cultivation, brewed coffee was reserved exclusively for the priesthood and the medical profession; doctors would use the brew for patients experiencing a need for better digestion, and priests used it to stay alert during their long nights of studying for the church. Coffee later spread to Europe in the early 16th century; it caused some controversy on whether it was halal in Ottoman and Mamluk society. Coffee arrived in Italy the second half of the 16th century through commercial Mediterranean trade routes, only being served to the wealthy. Central and Eastern Europeans learned of coffee from the Ottomans. By the mid 17th century, it had ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Of Coffee
Coffee is a popular beverage and an important commodity. Tens of millions of small producers in developing countries make their living growing coffee. Over 2.25 billion cups of coffee are consumed in the world daily that amounts to 2.5 cups of coffee consumed per person on average. Over 90 percent of coffee production takes place in developing countries—mainly South America—while consumption happens primarily in industrialized economies. There are 25 million small producers who rely on coffee for a living worldwide. In Brazil, where almost a third of the world's coffee is produced, over five million people are employed in the cultivation and harvesting of over three billion coffee plants; it is a more labor-intensive culture than alternative cultures of the same regions, such as sugar cane or cattle, as its cultivation is not automated, requiring frequent human attention. Coffee is a major export commodity and was the top agricultural export for 12 countries in 2004; the worl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Produce Exchange
The New York Produce Exchange was a commodities exchange headquartered in the Financial District of Lower Manhattan in New York City. It served a network of produce and commodities dealers across the United States. Founded in 1861 as the New York Commercial Association, it was originally headquartered at Whitehall Street in a building owned by the New York Produce Exchange Company. The Association was renamed the New York Produce Exchange in 1868 and took over the original building in 1872. Between 1881 and 1884, the Produce Exchange built a new headquarters on 2 Broadway, facing Bowling Green in Lower Manhattan. The structure, designed by George B. Post, was the first in the world to combine wrought iron and masonry in its structural construction. The main feature of the structure was an exchange floor that measured approximately . The Produce Exchange was profitable following the building's completion. By the 1880s, it had the largest membership of any exchange in the United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing House (finance)
A clearing house is a financial institution formed to facilitate the exchange (i.e., '' clearance'') of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement obligations. Description After the legally binding agreement (i.e., ''execution'') of a trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the payment (i.e. ''settlement'') of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties. In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perform t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. Originally, the exchange was a non-profit organization. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy, Bryan Durkin is president. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME, CBOT, NYMEX, and COMEX are now markets owned by CME Group. After the merger, the value of the CME quadrupled in a two-year span, with a market cap of over $25 billion. Today, CME is the largest options and futures con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodities Exchanges
A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals). Trading includes and various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of the commodity will be delivered at some agreed future date. A farmer raising corn can sell a futures contract on his corn, which will not be harvested for several months, and gets a guarantee of the price he will be paid when he delivers; a breakfast cereal producer buys the contract and gets a guarantee that the price will not go up when it is delivered. This protects the farmer from price drops and the buyer from price rises. Speculators and inves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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