History
Founded as the Minneapolis Chamber of Commerce in 1881, the MGEX has been a marketplace for producers, processors and millers for more than 125 years. The three Grain Exchange buildings in downtown Minneapolis are now listed on the National Register of Historic Places.
In 1883, the Chamber of Commerce introduced its first futures contract: hard red spring wheat. By 1946 "Chamber of Commerce" had become synonymous with organizations devoted mainly to civic and social issues. In 1947, the exchange was renamed the Minneapolis Grain Exchange. Today the exchange is most recognized by its logo and uses MGEX as first reference.
On December 19, 2008, the Minneapolis Grain Exchange ceased operations of the open outcry trading floor, but continues daily operations for the electronic trading platform. Today, HRSW futures trade exclusively electronically and options trade side-by-side.
Read more about this topic: Minneapolis Grain Exchange
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