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Saturday, December 20, 2008

Futures Exchanges - Knowing Where To Do Business

Good for you! Youve been reading, youve put together a trading rules to lay the foundation for your futures trading plan and youve even been life ins quotes trading to prove your trading plan. Now you are ready to learn more about where you will be doing your business; its time to talk about the futures exchanges.

General Futures Exchange Information

As you know at this point, you will not actually do business with the futures exchanges listed below. You will work with your broker who will take your futures orders to the exchange floor for you. Since you have been paper trading, you probably have already established an account for commodities trading so we wont go over that again. While there are futures exchanges throughout the world, we will focus on the ones in the US. The markets we will outline are in managed hosting Kansas City, New York and Chicago.

History of Futures Exchanges in the US

The modern futures trading began in Chicago, IL in the early 1800s. Chicago, with its location at the base of the Great Lakes, is close to the farm of the U.S. Midwest which made it a natural center for transportation, distribution and trading of agricultural produce. Gluts and shortages of these products caused extreme changes in price. An exchange was needed that would bring together a market to find potential buyers and sellers of a commodity instead of making people bear the burden of finding a buyer or seller. In 1848, the Chicago Board of Trade (CBOT), the world's first futures market, or futures exchange, was formed. Trading was originally in futures and the first contract was written on March 13, 1851.

Futures Exchanges

Different futures exchanges trade different commodities. In addition, each future exchange accepts different futures orders. Since not every exchange allows every order it is necessary to talk with you broker about which orders are permitted in the markets you trade. The following is a list of the major commodity exchanges, their commodities, and the orders that they accept:

Chicago Board of Trade

Location: Chicago, IL

Commodities

Corn

Oats

Soybeans

Soybean Oil

Soybean Meal

T-Bonds

T-Notes

Muni Bonds

5 Year Notes

2 Year Notes

DJIA Index

Acceptable orders: Market, Market on Close, Limit, Stop, and Fill or Kill Orders

Chicago Mercantile Exchange

Location: Chicago, IL

Commodities

Live Cattle

Lean Hogs

Lumber

Feeder Cattle

Pork Bellies

Acceptable orders: All futures orders are acceptable.

Index and Option Market

Commodities

S&P 500

Mid-cap 400

NASDAQ 100

Acceptable orders: All futures orders are acceptable.

International Monetary Exchange

Location: Chicago, IL

Commodities

T-Bills

Euro Dollars

Canadian Dollar

Euro Currency

Australian Dollar

Mexican Peso

Euro Yen

Japanese Yen

British Pound

Swiss Franc

Acceptable orders: All futures orders are acceptable.

New York Comex

Location: New York, NY

Commodities

Copper

Acceptable orders: For Copper only, acceptable are Market, Market on Close, Limit, Stop, and Fill or Kill.

Commodities

Gold

Silver

Acceptable orders: For Gold and Silver, acceptable are Market, Market on Close, Limit, Stop, and Fill or Kill. Stop Limits are acceptable only on a not-held basis.

New York Cotton Exchange

Location: New York, NY

Commodities

Cotton

Orange Juice

Dollar Index

Acceptable orders: Market, Market on Close, Limit, Stop, and Fill or Kill.

New York Coffee, Sugar & Cocoa Exchange

Location: New York, NY

Commodities

Coffee

Sugar

Cocoa

Acceptable orders: All futures orders are acceptable.

New York Mercantile Exchange

Location: New York, NY

Commodities

Unleaded Gasoline

Platinum

Palladium

Heating Oil

Crude Oil Natural Gas

Acceptable orders: All futures orders are acceptable.

New York Futures Exchange

Location: New York, NY

Commodities

New York Stock Exchange Index

CRB Index

Acceptable orders: All futures orders are acceptable.

Kansas City Board of Trade

Location: Kansas City, MO

Commodities

Kansas City Value Line

Kansas City Mini Value Line

Acceptable orders: All futures orders are acceptable.

Kansas City Wheat

Acceptable orders: Market, Market on Close, Limit, Stop and Fill or Kill.

Minneapolis Board of Trade

Location: Minneapolis, MN

Commodities

Minneapolis Wheat

Minneapolis White Wheat

Acceptable orders: All futures orders are acceptable.

www.candlestickforum.com/PPF/Parameters/1_21_/candlestick.asphttp://www.candlestickforum.com/PPF/Parameters/1_21_/candlestick.asp A site dedicated to stock market investing using Japanese Candlesticks

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Saturday, December 20, 2008

Futures Exchanges - Knowing Where To Do Business

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