CBOT Senior Vice President of Business Development Robert Ray said, “We are very pleased that ASA, a firm with extensive experience trading CBOT Municipal Note contracts, will now serve as an EMM for the product. This initiative will provide increased trading opportunities for CBOT customers and is exemplary of the exchange’s ongoing effort to pursue all avenues to enhance the liquidity and efficiency within CBOT markets.”
The CBOT 10-Year Municipal Note futures correlate closely with portfolios of tax-exempt securities, offering targeted and effective hedging opportunities to market users. Beginning January 3, 2005, ASA will provide continuous two-sided markets on the CBOT’s electronic trading platform in 10-Year Municipal Note futures between 7:20 a.m. and 2:00 p.m. Central Time.
Under typical market conditions, ASA will make markets in outright transactions with a minimum depth of 50 contracts per side and a maximum bid-offer spread of four ticks. In addition, the firm will provide quotes at a variety of prices and accompanying size outside of the best market price.
ASA is a money management firm based in Minneapolis, MN. The principals of ASA have more than 60 years of combined experience in the financial markets, trading products including CBOT contracts and municipal cash bonds.
For more information on 10-Year Municipal Note futures and other CBOT products, please visit the exchange Website at www.cbot.com.
