a/c/e is the collaboration of the world's two leading futures and options exchanges. a/c/e provides the platform for electronic trading at the CBOT. This platform is identical with the platform Eurex operates for its market. A common network will be the gateway to CBOT and Eurex products for global market users, providing exchange members with access to the world's premier exchange-traded derivatives through a single trading screen.
CBOT Interim President & CEO Dennis A. Dutterer said, " This is an unprecedented business alliance between the world's two leading derivatives markets. Together we are providing the best technology, the widest distribution and the greatest products to market users. Through our cooperation with Eurex we have set a new standard for the industry. On behalf of our members and customers, we look forward to building on this bold and forward-looking initiative on behalf of our customers."
Eurex CEO Jörg Franke said, "a/c/e is the answer to the consolidation trend in our industry that is driven by globalization, deregulation and technology. We provide global access to a wide range of benchmark products at the lowest cost, thus serving the needs of our customers."
In October 1999, the Chicago Board of Trade and Eurex signed final agreements to create an alliance and joint venture company that would operate a single global electronic trading system. Since that time, the CBOT and Eurex have worked jointly to implement this initiative.
At launch, 86 of the CBOT members currently trading on Project A will be able to trade all CBOT products on the a/c/e platform. Firms will be able to access the system through a wide-area communication network (WAN) which features 106 connections worldwide. Trading will begin on August 27 in countries around the world including the U.S., Germany, France, United Kingdom and Japan. Additional CBOT members and Eurex member firms will be connected to the platform still in 4th quarter 2000.
Regular trading hours for CBOT products on the a/c/e platform will be as follows, Sunday - Friday (Chicago Time): Financials: 10:00 p.m. - 4 p.m., Agricultural: 10:10 p.m. - 6 a.m., Stock Indices & Metals: 10:20 p.m. - 4 p.m.
CBOT open outcry hours will remain unchanged. Project A, CBOT's current electronic trading platform, will cease operation at 6:00 a.m. on Friday, August 25.
