The NYMEX (New York Mercantile Exchange) refers to the New York, USA based exchange that specializes in physical commodity futures.
The exchange is managed in two parts the NYMEX Division, where Petroleum Energy, Palladium and Platinum futures are traded. Copper, Gold and Silver futures contracts are traded at the COMEX Division of the exchange. The NYMEX uses both an electronic trading format and the Open Outcry trading format. The NYMEX and the COMEX are the main trading centers for Precious Metals in the USA, whereas the bulk of Precious Metals trading in the UK are done at the LME, or London Metals Exchange.