THE COTTON EXCHANGE
The NYCE was founded in 1870 by a group of one hundred cotton brokers and merchants, and is the oldest commodities exchange in the city. In the spring and summer of 1870, a group of cotton merchants and brokers doing business in New York began planning an improvement on their “loose and informal association of persons active in the cotton trade,” spending weeks preparing to create an association that was governed by rules and “equally fair to all” in its cotton dealings. In the middle of August 1870, the forming organization voted for officers and managers, and the Exchange was organized officially on September 7, 1870. Founding president was Stephen D. Harrison. The Exchange earned a charter from the State of New York and its legislature on April 8, 1871. It was first located at 1 Hanover Square (later known as India House) in New York City.
• Point of Interest