CBOT President and CEO David Vitale said, "ABN AMRO's ongoing performance to enhance liquidity for customers in our swaps' open auction market has lead to their appointment of designated market marker on the exchange's electronic trading platform for our 10-year and 5-year Swap futures. The market maker program is one of the many ways the exchange is working to increase liquidity, improve customer service, and enhance business opportunities for its customers and members. We look forward to ABN AMRO's continuing participation in the CBOT's electronic and open auction markets."
ABN AMRO's Pat Fay, Head of Global Financial Markets, North America added, "We are pleased to further expand the liquidity of this successful complex through our on-going partnership with the CBOT."
On February 1, 2002, ABN AMRO became the first designated market maker at the exchange, trading 10-year Interest Rate Swap futures in the CBOT's open auction environment. Since its participation, volume has reached over 275,000 contracts. Building on the liquidity, strong open interest and volume growth in the 10-year Swap futures, the exchange added the 5-year Interest Rate Swap contract to its complex on June 21, 2002. With ABN AMRO acting as the designated market maker at its launch, the contact had trading volume of 10,275, in its first 5 weeks of trading.
