The Coffee, Sugar and Cocoa Exchange (CSCE) was founded in 1882 as the Coffee Exchange in the City of New York . Sugar futures were added in 1914, and, on September 28, 1979, the New York Coffee and Sugar Exchange merged with the New York Cocoa Exchange (which in turn had been founded in 1925) to form CSCE. In 1998, CSCE merged with the New York Cotton Exchange as subsidiaries of the New York Board of Trade (NYBOT). The CSCE operates as an independent unit of NYBOT trading futures and options on coffee , sugar and cocoa and the S&P Commodity Index . Trading is by open outcry , from 8 a.m. to 2:45 p.m., Monday through Friday. In January 2007, NYBOT merged with IntercontinentalExchange (ICE) and became a wholly owned subsidiary of ICE.
7-576: At the end of April 1902, H. M. Humphreys resigned from his position as superintendent of the Coffee Exchange to become vice president of the newly formed Mutual Alliance Trust Company . Coffee broker Joseph J. O'Donohue was a founder of the Coffee Exchange, New York's City Commissioner of Parks, and a founder of the Brooklyn-New York Ferry. Lehman Brothers became a member of the Coffee Exchange as early as 1883, five years before joining
14-567: The Chicago Mercantile Exchange did not begin using clearing houses to settle their transactions until the second decade of the 20th century. The New York Coffee Exchange began using clearing houses in 1914. Mutual Alliance Trust Company The Mutual Alliance Trust Company was a trust company formed in New York City in 1902, with founders such as Cornelius Vanderbilt III and William Rockefeller . On January 14, 1915,
21-531: The New York Stock Exchange in 1887. In 1909 writer Vincent O'Sullivan lost his income from the family coffee business when his brother Percy made a spectacularly mistimed futures gamble at the New York Coffee Exchange. The entire family was ruined, and Vincent was destitute for the remaining years of his life. Some major U.S. commodities exchanges , like the New York Coffee Exchange and
28-626: The combined institution. Those of the National Bank Reserve were about $ 4,352,561 on January 13, 1914. At the time of the merge, the New York Times wrote that "both institutions have a large number of country bank accounts, chiefly in the West and Southwest, and handle much cotton exchange business." For a time, the office of the National Bank Reserve at 165 was continued as the Reserve Branch of
35-654: The company was acquired by Chatham-Phenix National and Alliance Trust in New York. At the end of April 1902, H. M. Humphreys resigned from his positions as superintendent of the Coffee Exchange to become vice president of the newly formed Mutual Alliance Trust Company. On May 1, 1902, the New York Times reported the details of the newly formed Mutual Alliance Trust Company. It was organized by Cornelius Vanderbilt , William Rockefeller , and "a dozen more well-known men" with $ 1,000,000 in capital. Its initial place of business
42-647: Was an office at Orchard and Grand Streets in New York City. Kalman Haas was founding president, and Henry M. Humphrey vice president. It opened for business on the Tuesday after June 29, 1902, as a general trust company on the east side of Manhattan. There were 13 directors upon its founding. On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, which
49-406: Was then based at 35 Wall Street . The two companies had previously been affiliated and had shared directors. Deposits of the merged institutions was about $ 12,000,000. The National Reserve was liquidated, and its stockholders received the value "of the assets exceeding the amount of the deposits and a substantial payment for the good will of the institution." James H. Parker was appointed president of
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