when the nybot was founded in 1870 trading was conducted exclusively by humans often working on large and loud trading floors in 1997 the nybot acquired the coffee sugar and cocoa exchange csce increasing their foothold in the commodity trading marketplace this combined entity was then purchased by the ice in 2006 12
real world example of the new york board of trade nybot a few years after the ice acquired the nybot the traditional trading floors were closed off so that all trades would be executed electronically today the ice operates as an entirely electronic exchange enabling near instant transactions among market participants throughout the world this move toward digitization has also corresponded with a vast increase in the size of the commodities trading markets themselves as its name suggests the ice is a truly international marketplace in which traders can transact in commodities ranging from electricity and jet fuel to derivative products based on interest rates currency values and various other underlying assets 