Category talk:Commodity exchanges

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I just saw where this category was approved for renaming to "Category:Futures exchanges". Although I understand why the change was suggested, I think this would be a mistake for an encyclopedia. A Futures exchange is a paper/electronic invention evolving from Commodity exchanges which have existed long before the term "Futures" (contracts) existed. The label "Futures" is also a bit of a misnomer because it infers the Exchange deals in Futures only when in reality Commodity Exchanges also deal in "options." In their earliest days, Commodity exchanges actually had a warehouse full of whatever commodity was being traded, they settled disputes between customers over quality etc. (until lawyers got into the act), published books on the commodity etc. The New Orleans Cotton Exchange cannot be categorized as a Futures Exchange but in fact, the New York Cotton Exchange still uses the "Commodity" terminiology, as does Chicago etc. Most industry people still use the terminology because laymen understand what a "Commodity Exchange" is whereas only a limited few have any clue what a "Futures Exchange" is. As such, Wikipedia should stay with Commodity Exchanges and having two categories would make no sense, either. - Ted Wilkes 16:00, 3 November 2005 (UTC)