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 The New York Cotton Exchange (NYCE) is a commodities exchange founded in 1870 by a group of one hundred cotton brokers and merchants in New York City. In 1998, the New York Board of Trade (NYBOT) became the parent company of the New York Cotton ...

as subsidiaries of the

New York Board of Trade ICE Futures U.S.—known as the New York Board of Trade (NYBOT) until September, 2007— is a physical commodity futures exchange located in New York City. It is a wholly owned subsidiary of Intercontinental Exchange (ICE). History It origi ...

(NYBOT). The CSCE operates as an independent unit of NYBOT trading

futures Futures may mean: Finance *Futures contract, a tradable financial derivatives contract *Futures exchange, a financial market where futures contracts are traded *''Modern Trader'', formerly Futures, an American finance magazine Music * ''Futures' ...

and options on

coffee Coffee is a beverage brewed from roasted, ground coffee beans. Darkly colored, bitter, and slightly acidic, coffee has a stimulating effect on humans, primarily due to its caffeine content, but decaffeinated coffee is also commercially a ...

sugar Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose Glucose is a sugar with the Chemical formula#Molecular formula, molecul ...

and cocoa and the S&P Commodity Index. Trading is by

open outcry Open outcry is a method of communication between professionals on a stock exchange or futures exchange, typically on a trading floor. It involves shouting and the use of Hand signaling (stock market), hand signals to transfer information pri ...

, from 8 a.m. to 2:45 p.m., Monday through Friday. In January 2007, NYBOT merged with

IntercontinentalExchange Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the ...

(ICE) and became a

wholly owned subsidiary A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...

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 founder of the Coffee Exchange, New York's City Commissioner of Parks, and a founder of the Brooklyn-New York Ferry."Mrs. J.M. Ferrer, Civic Leader, 89", ''The New York Times'', February 21, 1967.

Lehman Brothers Lehman Brothers Inc. ( ) was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merril ...

became a member of the Coffee Exchange as early as 1883, five years before joining the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

in 1887.Geisst, Charles R. ''The Last Partnerships''.

McGraw-Hill McGraw Hill is an American education science company that provides educational content, software, and services for students and educators across various levels—from K-12 to higher education and professional settings. They produce textbooks, ...

, 1997, page 50Wechsberg, Joseph. ''The Merchant Bankers''. Pocket Books, 1966, page 235 In 1909 writer Vincent O'Sullivan lost his income from the family coffee business when his brother Percy made a spectacularly mistimed futures gamble at the New York Coffee Exchange. The entire family was ruined, and Vincent was destitute for the remaining years of his life. Some major U.S.

commodities exchanges A commodities exchange is an Exchange (organized market), exchange, or market, where various Commodity, commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, ...

, like the New York Coffee Exchange and the

Chicago Mercantile Exchange The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is an American 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 ...

did not begin using clearing houses to settle their transactions until the second decade of the 20th century. The New York Coffee Exchange began using clearing houses in 1914.
Staff, ''Simmon’s Spice Mill'', Vol. 37, No. 10, October, 1914, p. 1036

Notes

External links

Official ICE site
{{subject bar, portal1=Business and economics, portal2=Coffee Financial services companies established in 1882 Coffee organizations Food and drink companies based in New York City Commodity exchanges in the United States 1882 establishments in New York (state) American companies established in 1882 Financial services companies based in New York City Agricultural organizations based in the United States Coffee in the United States Chocolate industry Sugar industry of the United States Sugar organizations

Key people

See also

Notes

External links