Finex: The Best and Trusted Forex Broker in the World - DigiTech
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Finex: The Best and Trusted Forex Broker in the World

FINEX (Financial Instrument Exchange) is the financial instruments and currency products division of the New York Council of Commerce (NYBOT). It lists and trades various currency (forex) derivatives such as futures and options in futures.

FINEX was founded in 1985 due to the rapid emergence of the financial derivatives sector. It is now a subsidiary of the Intercontinental Exchange (ICE) after ICE bought NYBOT in 2006. The last FINEX trading session took place on Thursday, June 28, to Friday, June 29, 2007.

Understanding FINEX

In 1994, the Financial Instruments Exchange became the first stock exchange division to operate trading floors on two continents by adding a trading facility in Dublin, Ireland. FINEX was originally the finance arm of the New York Cotton Exchange (NYCE) until NYBOT became the parent company of NYCE in 1997.

The New York Cotton Exchange (also called the Coffee, Sugar, and Cocoa Exchange (CSCE)) is a commodity exchange founded in 1870 by a group of 100 cotton brokers and traders at 1 Hanover Square in New York City.

FINEX, along with NYBOT, is now owned by the Intercontinental Exchange (ICE), where the FINEX moniker has largely disappeared and has been incorporated by other ICE divisions.

What Is FINEX (Financial Instrument Exchange)?

FINEX (Financial Instrument Exchange) is the financial instruments and currency products division of the New York Council of Commerce (NYBOT). It lists and trades various currency (forex) derivatives such as futures and options in futures.

FINEX was founded in 1985 due to the rapid emergence of the financial derivatives sector. It is now a subsidiary of the Intercontinental Exchange (ICE) after ICE bought NYBOT in 2006. The last FINEX trading session took place on Thursday, June 28, to Friday, June 29, 2007.1

FINEX, or Financial Instruments Exchange, is a division of the New York Board of Trade (NYBOT) that deals with currencies and other financial products. FINEX was included as part of the Intercontinental Exchange (ICE) when it acquired NYBOT in 2006.

FINEX and other NYBOTs previously specialized in physical commodities and open-floor trading, but have gone all-electronic since being incorporated into ICE.

Understanding FINEX In 1994, the Financial Instruments Exchange became the first exchange division to operate trading floors on two continents by adding a trading facility in Dublin, Ireland. FINEX was originally the financial division of the New York Cotton Exchange (NYCE) until NYBOT became the parent company of NYCE in 1997.2 The New York Cotton Exchange (also called the Coffee, Sugar, and Cocoa Exchange (CSCE)) is a commodity exchange founded in 1870 by a group of 100 brokers. cotton and grocer at 1 Hanover Square in New York City.

FINEX, along with NYBOT, is now owned by the Intercontinental Exchange (ICE), where the FINEX moniker has largely disappeared and has been incorporated by other ICE divisions.

Since 2003, ICE's headquarters and trading facilities have been located in the New York Mercantile Exchange Building in the financial district.

Intercontinental Exchange

The Intercontinental Exchange, known as ICE, started in 2000 as an electronic platform for trading energy futures and options. It has stock, commodity, futures and options exchanges in the United States, Europe, Canada and Singapore. ICE bought the New York Stock Exchange (NYSE) in 2013 for $11 billion. ICE now holds and controls the remnants of NYBOT and its FINEX division.

Other ICE holdings include NYSE ARCA, NYSE National, NYSE AMEX Options, NYSE ARCA Options, and NYSE Chicago. ICE also operates six clearing centers: ICE Clear U.S., ICE Clear Europe, ICE Clear Singapore, ICE Clear Credit, ICE Clear Netherlands, and ICE NGX.

ICE became a public company on November 16, 2005, under the ticker symbol ICE, and was added to the Russell 1000 Index on June 30, 2006.

Currently, ICE is the third largest exchange group in the world, behind Hong Kong Exchanges and Clearing Limited (HKEX) and CME Group Inc., which owns the Chicago Board of Trade and the New York Mercantile Exchange.