The New York Board of Trade (NYBOT, renamed ICE Futures US in September, 2007), is a physical commodityfutures exchange located in New York City. It is a wholly owned subsidiary of IntercontinentalExchange (ICE). It originated in 1870 as the New York Cotton Exchange (NYCE). In 1998, the New York Board of Trade became the parent company of both the New York Cotton Exchange and the Coffee, Sugar and Cocoa Exchange (CSCE) (founded in 1882), which now function as divisions of NYBOT. NYBOT agreed to become a unit of ICE in September of 2006.