A seat on the New York Mercantile Exchange (Nymex) recently sold for a record US$400,000.
The previous high of US$395,000 was set a few days earlier, which surpassed an earlier record value of US$350,000 set in May, 1989.
Nymex, which has 816 seats and is perhaps best known for its trading of oil contracts, also trades platinum and palladium contracts.
Meanwhile, Nymex directors have agreed to restructure the exchange into a for-profit corporation.
The plan, which will require formal board approval and membership and regulatory approval, will allow seat-holders to become equity-owners of the exchange and to share in the profits.
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