FINEX

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.