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CBOT August Volume Jumps 25.2 Percent From Last Year

Date 01/09/2004

The Chicago Board of Trade (CBOT®) today announced that total exchange volume continued to post significant growth, reaching 53,127,493 contracts in August, up 25.2 percent from last year and 22.6 percent from July. Year-to-date (YTD) volume through August was up 31.3 percent from January through August last year. Average daily volume in August accelerated 19.5 percent to 2,414,886 contracts from August 2003 levels.

CBOT President and CEO Bernard Dan said, “Consistent increases in volume and open interest demonstrate that our customers continue to trust in and depend upon the CBOT’s transparent, liquid markets. Throughout August, the exchange set several records within our U.S. Treasury options complex and established a new daily electronic volume record. These strong performances confirm the great value our customers see in our superior electronic trading platform, our innovative clearing system and our customer-driven programs, such as our Electronic Market Maker (EMM) program for Financial options.”

Total exchange open interest at the end of August rose 47.9 percent to 10,394,681 contracts from last year. In addition, exchange-wide daily open interest set a record of 13,004,167 contracts on August 26.

CBOT U.S. Treasury products also set monthly and daily volume records. Volume in Two-Year U.S. Treasury Note futures set a monthly record at 1,009,935 contracts in August. Ten-Year U.S. Treasury Note futures volume rose to a daily record of 1,555,661 contracts on August 31. Ten-Year U.S. Treasury Note options volume reached an all-time daily high of 652,229 contracts on August 6.

The CBOT’s U.S. Treasury markets continued to perform impressively, with daily open interest records in Ten-Year and Five-Year U.S. Treasury Note futures and options. On August 26, open interest in Ten-Year U.S. Treasury Note futures rose to a record 1,498,872 contracts. That same day, open interest in Ten-Year U.S. Treasury Note options hit a record 3,131,045 contracts. Open interest in Five-Year U.S. Treasury Note options also rose to a record, at 1,300,848 contracts. In Five-Year U.S. Treasury Note futures, open interest rose to an all-time high of 1,373,393 contracts on August 6.

Total CBOT options volume increased 25.6 percent from last year to 9,144,422 contracts and 38.7 percent YTD to 74,939,637 contracts. Financial options volume gained 29.8 percent from last year to 7,910,403 contracts and 33 percent YTD to 61,847,033 contracts. Agricultural options trade increased 72 percent YTD to 12,788,517 contracts.

From January through August, 5,567,807 futures and options orders, excluding futures spreads, were electronically sent directly to floor brokers using Electronic Clerks, or order receipt devices, compared to 4,491,158 orders in the same period in 2003. In addition, from January through August, 83 percent of total Agricultural futures orders were filled electronically, an all-time high, compared to 71 percent in 2003.

Financial Futures and Options

  • Financial futures and options complex trade was up 28.6 percent from last year and 32.1 percent from July at 44,881,349 contracts. Volume rose 29.6 percent YTD to 242,365,338 contracts.
  • U.S. Treasury bond futures rose 39.7 percent from July to 6,343,506 contracts and 7.8 percent YTD to 46,363,560.
  • Ten-Year Treasury Note futures rose 22.3 percent from last year and 34.5 percent from July to 17,419,460 contracts. Volume rose 30.1 percent YTD to 124,984,047 contracts.
  • Five-Year Treasury Note futures rose 50.3 percent from last year and 49.9 percent from July to 10,655,993 contracts. Volume rose 43.3 percent YTD to 67,017,903 contracts.
  • Two-Year Treasury Note futures rose 96.5 percent from last year and 148.3 percent from July to 1,009,935 contracts. Volume rose 102.2 percent YTD to 5,310,352 contracts.
  • Thirty-Day Fed Fund futures rose 142.5 percent from last year and 30.9 percent from July to 1,423,622 contracts. Volume rose 22 percent YTD to 7,937,248 contracts.
  • U.S. Treasury Bond options rose 3.4 percent from July to 991,341 contracts.
  • Ten-Year Treasury Note options rose 24.8 percent from last year and 9 percent from July to 4,956,177 contracts. Volume rose 33.1 percent YTD to 37,064,466 contracts.
  • Five-Year Treasury Note options rose 117.3 percent from last year to 1,497,162 contracts and 74.5 percent YTD to 11,853,842 contracts.
  • Thirty-Day Fed Fund options rose 595.1 percent from last year to 436,888 contracts and 113.8 percent YTD to 2,802,214 contracts.
Agricultural Futures and Options
  • Agricultural futures and options complex trade was up 34.1 percent YTD at 61,214,622 contracts.
  • Wheat futures rose 8.4 percent from last year and 49 percent from July to 747,393 contracts. Volume rose 26.8 percent YTD to 5,639,603 contracts.
  • Corn futures rose 8.2 percent from July to 1,882,962 contracts and 39.9 percent YTD to 17,471,966 contracts.
  • Soybean futures rose 23.2 percent YTD to 13,236,490 contracts.
  • Mini soybean futures rose 126.8 percent YTD to 241,990 contracts.
  • Soybean meal futures rose 17.2 percent YTD to 6,105,578 contracts.
  • Soybean oil futures rose 9.4 percent YTD to 5,221,353 contracts.
  • Corn options rose 12.8 percent from last year to 543,467 contracts and 110.2 percent YTD to 5,865,614 contracts.
  • Soybean options rose 53.8 percent YTD to 4,335,558 contracts.
  • Soybean meal options rose 26.2 percent from last year to 62,871 contracts and 144.1 percent YTD to 744,899 contracts.
  • Soybean oil options rose 105.4 percent from last year to 69,186 contracts and 104 percent YTD to 727,283 contracts.
Metal Futures
  • Precious metals futures trade rose 220.4 percent from last year and 18.2 percent from July at 54,179 contracts. Volume rose 391.5 percent YTD to 381,890 contracts.
  • Mini Silver futures rose 440.4 percent from last year and 37.5 percent from July to 18,429 contracts. Volume rose 795.9 percent YTD to 124,009 contracts.
  • Mini Gold futures rose 164.9 percent from last year and 10.3 percent from July to 35,750 contracts. Volume rose 303.8 percent YTD to 257,881 contracts.
Equity Complex Futures and Options
  • DJIASM futures and options complex trade was up 55.8 percent from last year at 1,992,183 contracts and up 55.2 percent YTD at 15,719,184 contracts.
  • Mini ($5) DowSM futures rose 86 percent from last year to 1,809,200 contracts and 106.3 percent YTD to 13,625,327 contracts.
  • DJIA options rose 66.5 percent from July to 12,406 contracts and 26.3 percent YTD to 149,958 contracts.
Seat Sales
  • CBOT Full Membership last traded at $850,000 on August 19, 2004.
  • CBOT Associate Membership last traded at $315,000 on August 12, 2004.
  • CBOT COM membership last traded at $75,500 on August 30, 2004.
  • CBOT IDEM Membership last traded at $31,500 on August 31, 2004.
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