COMEX (Commodity Exchange, Inc.)

 

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

NYMEX, Intercontinental Exchange, Chicago Board of Trade