The New York Mercantile Exchange is owned and operated by the Chicago Mercantile Exchange Group (CME). This company deals in commodity future exchanges and focuses on energy carriers, metals and other commodities such as oil. In the middle of the 19th century, businessmen began to organize market forums so that buying and selling commodities would be easier. This was the beginning of the commodities exchange, and it has been a driving business practice ever since.
Though the New York Mercantile Exchange began with the trading futures of crops, as time wore on and technology advanced, they began to work in the energy industry. They moved into the oil and natural gas industry. The New York Mercantile Exchange handles the trading futures of coal, crude oil, electricity, natural gas, and many more precious commodities.
The main trading platform it uses is Globex, an electronic trading platform. They have been electronic since 2006. This system makes transactions more efficient and easier to track. The New York Mercantile Exchange is a vital force in the commodities industry.
Clayton Perlman worked for the New York Mercantile Exchange from 1999 to 2004. He was a clerk in crude oil and natural gas futures and option pits. He also managed the trade reconciliation options for a small hedge fund that was an off the floor trading operation. Perlman not only has experience in real estate but also in commodity trades. He spent five years in this business until he returned to the real estate business in New Jersey.