The following shall be the subject matter of contracts on exchange:
(1) Public securities.
(2) Industrial and commercial securities issued by private parties or by legally constituted partnerships or enterprises.
(3) Bills of exchange, drafts, promissory notes, and other commercial securities.
(4) The sale of precious metals, either coined or in bullion.
(5) Merchandise of all kinds, and warehouse receipts.
(6) Insurance on commercial chattels against land and sea risks.
(7) Freight and transportation, bills of lading, and waybills.
(8) Other transactions similar to those stated in the foregoing the dealing in which on exchange is not prohibited by law.
History —Commerce Code, 1932, § 46.