FINEX

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DEFINITION of 'FINEX'

The financial instruments and currency products division of the New York Board of Trade (NYBOT). It trades a variety of currency futures and options on futures. FINEX was established in 1985 due to the rapid emergence of the financial derivatives sector.

BREAKING DOWN 'FINEX'

In 1994, FINEX became the first exchange division to operate trading floors on two continents by adding a trading facility in Dublin, Ireland. FINEX was initially the financial division of the New York Cotton Exchange (NYCE), until the NYBOT became the parent company of the NYCE in 1998.

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RELATED FAQS
  1. What is the difference between trading currency futures and spot FX?

    The forex market is a very large market with many different features, advantages and pitfalls. Forex investors may engage ... Read Full Answer >>
  2. How do futures contracts roll over?

    Traders roll over futures contracts to switch from the front month contract that is close to expiration to another contract ... Read Full Answer >>
  3. How does a forward contract differ from a call option?

    Forward contracts and call options are different financial instruments that allow two parties to purchase or sell assets ... Read Full Answer >>
  4. Why do companies enter into futures contracts?

    Different types of companies may enter into futures contracts for different purposes. The most common reason is to hedge ... Read Full Answer >>
  5. What does a futures contract cost?

    The value of a futures contract is derived from the cash value of the underlying asset. While a futures contract may have ... Read Full Answer >>
  6. What are the main risks associated with trading derivatives?

    The primary risks associated with trading derivatives are market, counterparty, liquidity and interconnection risks. Derivatives ... Read Full Answer >>

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