Approved Participants
Yes, you can come to my party. Bring a condom. But um, no. We won't go there. Instead, think of approved participants like this: They’re like people who were approved for a very cool, all-access credit card...Black Amex. Red Visa. Post-Apocalyptic Discovery.
In the finance world, these are traders who meet specific criteria and have been given a permit to become approved participants at an exchange, like the Chicago Board of Exchange. They’re people in the business (like brokers or order-sending firms). These "experts" are U.S. or foreign-registered broker dealers who can access facilities (and other market places) if certain criteria (which may differ depending upon the exchange) has been met. They are approved to participate in taking on a whole lot of risk. That's the gist, anyway.
Related or Semi-related Video
Finance: What is NYMEX?25 Views
Finance allah shmoop what is nynex Sounds like a snooty
new fusion restaurant in soho doesn't it Well in fact
it isn't the new york mercantile exchange or the merc
if you want to sound like an insider is just
a trading post which covers the basics in the land
of commodities like gold sugar natural gas cotton and corrupt
congressmen you can trade them now on a fantasy league
It's this building here in manhattan right along the hudson
perfect for anyone second guessing any of their investment decisions
although in reality there are now zero transactions done inside
the actual exchange This being the twenty first century and
all everything is elektronik Those recently is two thousand sixteen
If you prefer to get your hands feet and soul
dirty you could head on down to one north end
avenue hop into the pit there and scream and jest
iq yah late wildly along with a handful of others
on the physical trading floor Yeah listen to him scream
but because investors by and large traded in a trek
to the exchange with a few clicks on their mac
well everything is now entirely on the interwebs as they
call them in the midwest But while the physical location
today is just houses well webs Yeah you can actually
trade on the nymex in your underwear It's Kind of 00:01:25.003 --> [endTime] cool
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