New York Mercantile Exchange: COMEX Division Seat Sale Breaks 19-Year Record

A seat on the COMEX Division of the New York Mercantile Exchange, Inc., was sold yesterday for $220,000, exceeding the previous record of $200,000 set on February 13, 1984.

The all-time record for a seat on Commodity Exchange, Inc. (COMEX), was $350,000 on September 22, 1980. Since those seats were split into two shortly afterward, on February 4, 1981, this sale marks a greater valuation. COMEX and the New York Mercantile Exchange merged in 1994.

Exchange President J. Robert Collins, Jr., said, "With a 29% growth in metals trading volume year-to-date, this seat record is evidence of the value the market places on the price transparency, market liquidity, and financial security offered through trading on the Exchange."