A commodities exchange is a trading center specializing in the exchange of raw material commodities, such as agricultural, energy, and mineral products, and various financial derivatives related to them. Examples include grain exchanges, livestock exchanges, oil exchanges, and metal exchanges.

The market concerns raw materials or financial instruments tied to them. Physical commodity transactions and related derivative transactions are both possible.

A stock exchange trades company ownership shares. Trading shares in a mining or agricultural company is different from trading its raw-material commodity.